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Surgical Innovations delivers rise in profits
SURGICAL Innovations, the Leeds-based designer and manufacturer of surgical devices, today posted a hefty rise in half year profits as it anticipates a strong demand for surgery to combat obesity.
In the six months ended June 30, revenue increased by 14 per cent to 1.99m, while pre-tax profit increased by 95 per cent to 215,000.
Over the period, the company secured a 90,000 Government grant for capital investment and launched the new LogiFlex product for obesity surgery in Europe.
Doug Liversidge, non-executive chairman, said: "This has been an exciting period for the group and sales of both our Surgical Innovations' branded and OEM products have been strong.
"The strategy to bring manufacturing in-house has proven to be highly successful providing the platform for increased revenues and profitability. The global market for laparoscopic surgery continues to see significant growth and I am confident that the group will take full advantage of the opportunities ahead."
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Friday 25 May 2012
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