Surgical Innovations plans for growth

In a trading update, Doug Liversidge, the company's chairman, said Surgical Innovations had made "excellent progress" in the first five months of the year.

Last week the company announced the delivery of an order of more than 600,000 for one of its key industrial partners.

Mr Liversidge added: "This is a significant achievement for SI and highlights the adaptability of our technology to industries outside surgery.

"The group has recently delivered a prototype for a second commercial product, as requested by our major industrial customer and I look forward to providing an update on the potential commercial opportunities later in the year."

"Within our original equipment manufacture (OEM) business, SI continues to work closely with all major partners, and should be in a position to announce details of a successful project shortly. The group is currently in discussions with a new OEM partner and we remain confident that this will provide a route for SI into new areas of laparoscopic surgery. "

He said the "channels to market" for the company's minimally invasive surgery (MIS) products remained strong.

He added: "SI has appointed a new distributor in Ireland and signed a three year 1m contract extension with our Italian distributor. We anticipate further contract extensions to be signed with other distribution partners during the remainder of the year.

"The group continues to invest in people and facilities to reflect the increasing demand for our products. We have grown the team to over 100 members of staff, and are preparing to bring plastic injection moulding capabilities on-site during the summer.

"We are extremely confident for the year ahead and look forward to providing a further update at the interim results in September."