Advanced Medical Solutions Group plc (AMS.L) reported that its profit before tax for fiscal year 2023 decreased by 18% to 21.2 million pounds from last year's 25.9 million pounds as margins were impacted by the temporary reduction in US LiquiBand revenue and lower royalty income.
Profit attributable to equity holders of the parent was 15.89 million pounds or 7.25 pence per share down from 20.41 million pounds or 9.30 pence per share in the prior year.
Adjusted earnings per share decreased by 10% to 9.39 pence from the prior year.
Group revenue increased by 2% to 126.2 million pounds from last year's 124.3 million pounds, with strong organic growth partly offset by de-stocking of US LiquiBand and reduced royalties, as guided in September 2023.
The Board proposed an increased final dividend of 1.66 pence per share to be paid on 21 June 2024 to shareholders on the register at the close of business on 31 May 2024. This compared to final dividend of 1.51 pence per share paid in 2022.
The Board expects to deliver strong growth in 2024 from the combined RESORBA and Syntacoll Biosurgical portfolio.
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