Advanced Medical Solutions bullish on future

Wounds treatment firm Advanced Medical Solutions was in demand after it posted a jump in profits and raised its dividend.

Profit before tax was up 72% to £4.5m on revenues that were up 52% to £24.8m in the first half of the year.

The firm pushed up its interim dividend to 0.17p per share, an increase of 17.2% on the year before.

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Chairman, Dr Don Evans, said the first half of 2012 hd seen significant progress by AMS, with its product LiquiBand continuing to increase its market share in the US.

"Despite the ongoing effects of the Euro on revenues, as highlighted previously, we expect to meet current market expectations for profit for the full-year," he said."

Evans also noted a strong performance by its wound dressing ActivHeal in the UK and an excellent initial contribution from the firm's recent acquisition of German firm Resorba.

"The second half is also expected to benefit from stronger silver alginate sales, initial trilaminate foam revenues and an additional boost in the US from LiquiBand Flex," he said.

"Further out, we have a number of exciting developments coming through our R&D pipeline which, combined with further strong progress anticipated in our existing businesses, lead the board to be very optimistic about our long term prospects," the Chairman added.

The company's shares rose almost 12% following the news.