TIDMSUN

RNS Number : 0622J

Surgical Innovations Group PLC

26 June 2017

Surgical Innovations Group plc

(the "Group" or the "Company")

AGM Statement

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative medical technology for minimally invasive surgery, will hold its Annual General Meeting today at 2.00 p.m. at the offices of the Company, Clayton Wood Bank, Leeds LS16 6QZ.

At the meeting Nigel Rogers, Executive Chairman, will make the following statement:

"Trading performance of the Group for the current financial year to date is in line with the Board's expectations. Revenues show strong growth compared with the corresponding period in the prior year, with gross margins delivered within the target range.

"Product innovation continues to be a priority, with focus on the further development of the YelloPort Elite range, our next generation Resposable port access system and the launch of further products to enhance our ranges of retraction and ligation solutions. The overall level of expenditure on product development has been maintained at a similar proportion of revenue as last year, demonstrating our ongoing commitment to innovation.

"The Group continues to be cash generative, with net cash resources building whilst maintaining investment in development, and a modest increase in working capital due to the increased activity level. Overall, the Board is satisfied with progress."

For further information please contact:

 
 Surgical Innovations           www.sigroupplc.com 
  Group Plc 
 Nigel Rogers, Executive        Tel: 0113 230 7597 
  Chairman 
 Melanie Ross, COO and 
  CFO 
 
 WH Ireland Limited (NOMAD      Tel: 0113 394 6600 
  & Broker) 
 Tim Feather 
 
 Walbrook PR (Financial      Tel: 020 7933 8780 or 
  PR & Investor Relations)       si@walbrookpr.com 
 Paul McManus                   Mob: 07980 541 893 
 Lianne Cawthorne               Mob: 07584 391 303

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 26, 2017 02:00 ET (06:00 GMT)

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