Advanced Medical hit by euro weakness
Advanced Medical Solutions, the wound care specialist, has warned currency movements and the end of a rolling order are likely to hit full year revenues.
Advanced Medical Solutions, the wound care specialist, has warned currency movements and the end of a rolling order are likely to hit full year revenues.
AMS bought a German firm, RESORBA, in 2011, the effect being that more revenues are denominated in euros. The euro's current weakness means the company will see revenues decline when income is translated into sterling.
A "roll-stock" order for the group's foam product received in 2011 will not be repeated in 2012, further reducing turnover.
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In a statement to the company's AGM on Tuesday, however, AMS's Chairman Dr Don Evans stressed the revenue decline will only have a "negligible" effect on profits.
The stock was down 3.3% at 10:38.
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