No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Medical device company Creo Medical said on Monday that it would transition from development to full commercialisation in FY25.
Creo Medical said revenues came to £30.4m in FY24, down slightly from £30.8m a year earlier. However, it said it had delivered a 74% increase in "Creo core technology" revenues to £4.0m.
The AIM-listed group stated that actions to reduce costs in H2 had resulted in a decrease in operating costs of approximately £5.0m, with the full benefit of its cost-cutting programme set to come through in FY25.
Creo also noted that its sale of a 51% stake in its Creo Europe business to Micro-Tech, with proceeds of approximately ¬30.0m payable in cash received on 14 February. Following completion of the sale, the group's cash and equivalents were £31.2m.
Looking forward, Creo added that the start to the year has been "positive" and that it was trading in line with management expectations.
As of 1200 GMT, Creo Medical shares were down 7.41% at 17.50p.
Reporting by Iain Gilbert at Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.
