Business
Pre-Close Trading Update
Pre-Close Trading Update.
About this update from Advanced Medical Solutions Group Plc
[{"type":"text","content":"\n \nRNS Number : 3031Z Advanced Medical Solutions Grp PLC 14 December 2017 \n\n\n\n\n\n\n\n\n14 December 2017\n\n\n\n\n \nAdvanced Medical Solutions Group plc\n(\"AMS\", the \"Company\" or the \"Group\")\n \nPre-Close Trading Update\n \nWinsford, UK, 14 December 2017: Advanced Medical Solutions Group plc (AIM: AMS), the surgical and advanced wound care specialist company, today announces an update on trading for the year ending 31 December 2017.\n \nThe Group continues to make good progress and the Board expects revenue and profitability to be in line with current market expectations that include the positive impact from the recent Organogenesis licensing deal.\n \nChris Meredith, Chief Executive Officer of AMS, said: \"The Group continues to deliver strong organic growth supported by our Research and Development activities that provide both product innovation and intellectual property. AMS is well positioned to continue on its growth trajectory.\" \n \nThe Group expects to publish its Preliminary Results for the year to 31 December 2017 in March 2018.\n \nAdoption of IFRS 15\nIFRS 15 (Revenue from Contracts with Customers) becomes mandatory for AMS from 1 January 2018. The main effect for AMS will be to recognise the fees received from royalty payments and from regulatory agreements as Revenue rather than as Other Income. It will have no impact on profit or cash flow. The Group however has chosen to adopt IFRS 15 early and will be reporting its results for 2017 in line with its requirements. \n \n-End -\n \nFor further information, please visit www.admedsol.com or contact:\n \n\n\n\n\nAdvanced Medical Solutions Group plc\n\n\nTel: +44 (0) 1606 545508\n\n\n\n\nChris Meredith, Chief Executive Officer\nMary Tavener, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nConsilium Strategic Communications\n\n\nTel: +44 (0) 20 3709 5700\n\n\n\n\nMary-Jane Elliott / Matthew Neal / Philippa Gardner / Rosie Phillips\n\n\[email protected]\n\n\n\n\n\n\n\n\n\n\n\n\nInvestec Bank PLC (NOMAD & Broker)\n\n\nTel: +44 (0) 20 7597 5970\n\n\n\n\nDaniel Adams / Gary Clarence / Patrick Robb\n\n\n\n\n\n\n\n \n \nAbout Advanced Medical Solutions Group plc - see www.admedsol.com\n \nAMS is a world-leading independent developer and manufacturer of innovative and technol...