The Advanced Mediacal Solutions Group Board is proposing an increased final dividend of 1.66p per share (2022 final dividend: 1.51p), to be paid on 21 June 2024 to shareholders on the register at the close of business on 31 May 2024. This follows the interim dividend of 0.70p per share (2022 interim dividend: 0.64p) paid on 24 October 2023 and would, if approved, make a total dividend for the year of 2.36p per share (2022: 2.15p), an increase of 10%.
Other financial highlights include:
Group revenue increased by 2% to £126.2 million (2022: £124.3 million) with strong organic growth partly offset by de-stocking of US LiquiBand and reduced royalties, as guided in September 2023
Adjusted profit before tax decreased by 9% to £25.9 million (2022: £28.5 million) whilst reported profit before tax decreased by 18% to 21.2 million (2022: £25.9 million) as margins were impacted by the temporary reduction in US LiquiBand revenue and lower royalty income
Net cash decreased to £60.2 million (2022: £82.3 million) following the acquisition of Connexicon, planned inventory build and the purchase of shares by the Employee Benefit Trust
Investment in R&D increased to £12.6 million (2022: £12.3 million), representing 10% of revenues (2022: 10%), as the Group maintains investment in new products and Medical Device Regulation ("MDR")
Surgical Business Unit revenues increased to £79.1 million (2022: £74.9 million), an increase of 6% at reported and constant currency
Woundcare Business Unit revenues decreased to £47.1 million (2022: £49.5 million), a decrease of 5% at reported and constant currency
