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Surgical Innovations confident about prospects
LEEDS-based surgical devices firm Surgical Innovations said it was feeling confident and looking to develop new products after posting a rise in full year profits.
In the year to the end of 2008, the company's revenue was 4.3m, down from 4.8m recorded the year before.
However, pre-tax profit increased by 12 per cent to 820,000. Over the year, the company moved to new premises with manufacturing facilities and established a clinical advisory board to help it develop new products.
Doug Liversidge, the non-executive chairman, said: "I am pleased we were able to achieve our objectives and return a second half performance that gives the board confidence for 2009. Our main objective this year is to develop instrumentation for the next generation of surgical techniques, namely single port access surgery."
"Against a reduction in annual revenue I am looking for an immediate return to sales growth in 2009 to complement projected margin improvements through in-house manufacture.
"The facilities are now in place, new products are ready for launch and with the current world economic situation, the group is well placed to take advantage of our established resposable concept. As a company heavily geared to exports, we should continue to benefit from the low value of sterling against the dollar and Euro."
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