Surgical Innovations Group PLC Notice of results and trading update (9216H)
27 Marzo 2020 - 4:05PM
UK Regulatory
TIDMSUN
RNS Number : 9216H
Surgical Innovations Group PLC
27 March 2020
Surgical Innovations Group plc
("SI" or the "Group")
Notice of results and trading update on the effects of
Covid-19
Notice of results
Surgical Innovations Group plc (AIM: SUN), the designer,
manufacturer and distributor of innovative medical technology for
minimally invasive surgery, announces that it will release its
audited annual results for the year ended 31 December 2019 on
Tuesday 31 March 2020. These have been delayed slightly from the
planned timetable whilst the Group and its auditors have worked
through the implications of regulatory guidance relating to
Covid-19, including that published by the Financial Conduct
Authority, on 22 March 2020.
As outlined in the trading update announced on 13 January 2020,
the adjusted profit before tax for the year ended 31 December 2019
was in line with market expectations.
Trading update on the effects of Covid-19
On 17 March 2020, the UK Government announced the suspension of
all non-urgent surgical procedures by the NHS in preparation for a
peak in treatment of patients affected by Covid-19. This will have
a significant adverse short-term effect on the Group's trading
prospects in the UK market, and it is anticipated that other
significant markets overseas may be affected in a similar
manner.
The audited annual results will set out the approach taken by
the Group in relation to the pandemic, and its likely effect on the
Group's business and prospects in the current year. Full details
will also be provided on actions taken by the Board and management
to date to mitigate these effects, aiming to protect the
longer-term trading prospects of the Group. Reflecting the current
material uncertainty, the Group has withdrawn forecast guidance for
the current financial year.
The Group has a positive net cash balance at the current time,
and reasonable grounds to anticipate support from the UK
Government, its bankers and other key stakeholders.
For further information please contact:
Surgical Innovations Group plc www.sigroupplc.com
Nigel Rogers, Chairman Tel: 0113 230 7597
David Marsh, CEO
N+1 Singer (NOMAD & Broker) Tel: 020 7496 3000
Aubrey Powell (Corporate Finance)
Rachel Hayes (Corporate Broking)
Walbrook PR (Financial PR & Investor Tel: 020 7933 8780 or si@walbrookpr.com
Relations)
Paul McManus / Lianne Cawthorne Mob: 07980 541 893 / 07584 391 303
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END
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March 27, 2020 11:05 ET (15:05 GMT)
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