Dividend
- Reflecting its confidence in the Group's prospects, the Board is proposing a final dividend of 2.01p per share (2024 final dividend: 1.83p), to be paid on 26 June 2026 to shareholders on the register at the close of business on 29 May 2026.
- This follows the interim dividend of 0.85p per share (2024 interim dividend: 0.77p) paid on 24 October 2025 and would, if approved, make a total dividend for the year of 2.86p per share (2023: 2.60p) an increase of 10%.
Other Financial Highlights
- Group revenue increased by 29% to £228.9 million (2024: £177.5 million), driven by the full year impact of the July 2024 acquisition of Peters Surgical and continued growth across key product categories. Overall performance was in line with management expectations and included a strong performance from the existing AMS business (excluding Peters) that delivered 10% constant currency growth, with a good performance from Adhesives and Biosurgical categories and a good recovery in the Woundcare business.
- Adjusted EBITDA increased by 24% to £49.9 million (2024: £40.2 million) and reported profit before tax increased by 81% to £17.8 million (2024: £9.8 million) as a result of organic growth from the existing AMS business and the inclusion of the first full year of Peters' results.
- Net debt on 31 December 2025 was reduced to £50.5 million (2024: £55.8 million). Significant investment in the Group's transformation project, including a number of exceptional items largely relating to the restructuring of manufacturing function, together with capital expenditure and inventory increases, partly offset the pace of deleveraging in the year.
