AMS chiefs confident of future revenues

Published on 08/07/2012 00:00

ALTHOUGH the Eurozone crisis is likely to have some impact on revenues at medical technology company Advanced Medical Solutions, it recently announced it remained on track to meet full-year profit expectations.

At the firm’s AGM last month chairman Don Evans said the group had enjoyed a good start to 2012 and that the integration of Resorba, the German surgical dressings business it bought for £55 million last year, was “progressing to plan”.

With an increased proportion of sales in the Eurozone following the Resorba acquisition, the weakening of the single currency could affect headline revenues. But the company said currency hedging meant that profits were likely to remain on track.

“The long-term prospects for the group remain excellent and we look forward to the coming months with confidence,” said Evans.

Last week two directors increased their holdings in the company. Chief executive Chris Meredith bought 4,393 shares at 67.6p and now holds 1.136 million. Group finance director Mary Tavener bought 7,500 shares at 66.5p and owns 2.08 million shares.

Shares in the company are trading at close to their year low.

≤ Stuart Morris, a non-­executive director of ­Mwana Africa, has upped his stake with the purchase of 300,000 shares at 3.825p each. He now holds 1.5 million shares in the company which has operations and exploration activities in gold, nickel and other base metals, and diamonds in southern Africa.

≤ Mark Hughes, chief financial officer of diagnostics group Mediwatch, has purchased 150,000 shares at 3.25p each. It was his first purchase of shares in the group.

≤ Three directors at waste treatment business Nature Group have bought shares. Charles Fairweather, Peter Snell and Nigel Sandy, together bought 162,500 shares in the company at around 267p each.

They now own almost four million shares between them.

≤ Oisin Fanning, chairman of oil group San Leon Energy, has bought a million shares in the company at 8.63p. He now owns more than 60 million shares.