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Surgical and advanced woundcare company Advanced Medical Solutions maintained its interim dividend and reported a fall in first-half profit owing to a coronavirus-led slowdown in demand.
For the six months ended 30 June 2020, pre-tax fell 62% to £4.3m on-year as revenue fell 19% to £39.3m.
Margins fell to 14% from 26.7%, which the company blamed on 'the negative impact of the COVID-19 pandemic on the group's revenues.'
'Trading was in line with our trading update of 9 July 2020, with the majority of the business impacted by government-led restrictions to control COVID-19 and a slowdown in demand across all regions and product categories,' the company said.
The interim dividend was maintained at 0.50p per share.
'The group has maintained investment in R&D to progress its key projects and is well positioned for growth as our markets continue to recover,' the company said. 'Whilst we expect COVID-19 to continue to impact sales and profitability in the short term, the Board remains positive about our medium to long-term prospects.'
At 9:28am: (LON:AMS) Advanced Medical Solutions Group PLC share price was -1.5p at 240.5p