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UPDATE 1-Advanced Medical profit rises 21 pct
March 7, 2012 / 8:22 AM / 6 years ago

UPDATE 1-Advanced Medical profit rises 21 pct

* FY pretax profit 6.4 mln stg vs 5.3 mln stg last yr

* Total payout up 18 pct to 0.45 pence per share for 2011

March 7 (Reuters) - Wound care products maker Advanced Medical Solutions Group Plc reported a higher full-year profit helped by strong sales of its ActivHeal brand, and the company said 2012 had started well.

Pretax profit for 2011 jumped 21 percent to 6.4 million pounds ($10.07 million), compared with 5.3 million pounds a year earlier.

Revenue rose 8 percent to 34.4 million pounds.

“2012 has started well across all our existing businesses and we are confident of achieving another year of strong progress,” Chairman Don Evans said in a statement.

The company proposed a final dividend of 0.305 pence per share, taking the total payout for the year to 0.45 pence per share, an increase of 18 percent over 2010.

The group also said it expects its recent acquisition of Resorba benefit the company both financially and strategically.

Advanced Medical purchased German peer Resorba in December. Resorba made and distributed sutures and collagen products for surgery.

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