Advanced Medical Solutions AIM:AMS
- Founded
- 1991 · Winsford, England
- Incorporated
- United Kingdom
- Chief executive
- Chris Meredith
- Employees
- 1,658
- Reports in
- GBP
- Companies House
- 02867684
Develops and manufactures surgical and advanced wound care products, including the LiquiBand tissue adhesive range, internal sealants and fixation devices, sutures and antimicrobial dressings. Sells both under its own brands and as an OEM partner to major medical device companies, with manufacturing in the UK, Europe and beyond.
Read straight from the annual reports
283p at close on 2 Oct 2026 · 32 reported years, 1994–2025
| Line | FY199412/94 | FY199512/95 | FY199612/96 | FY199712/97 | FY199812/98 | FY199912/99 | FY200012/00 | FY200112/01 | FY200212/02 | FY200312/03 | FY200412/04 | FY200512/05 | FY200612/06 | FY200712/07 | FY200812/08 | FY200912/09 | FY201012/10 | FY201112/11 | FY201212/12 | FY201312/13 | FY201412/14 | FY201512/15 | FY201612/16 | FY201712/17 | FY201812/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | later 83.2 | ||||||||||||||||||||||||||||||||
| Gross profit | later 48.0 | ||||||||||||||||||||||||||||||||
| Operating profit | vs (1.6) | vs 0.49 | later 28.5 | ||||||||||||||||||||||||||||||
| Adjusted operating profit | — | — | — | — | — | — | — | — | — | — | — | — | vs 12.8 | later 29.0 | vs 25.3 | vs 14.5 | |||||||||||||||||
| Exceptional items | — | — | vs 0.45 | — | — | — | — | — | |||||||||||||||||||||||||
| Net finance cost | vs (0.12) | later 0.20 | |||||||||||||||||||||||||||||||
| Profit before tax | vs 0.61 | later 28.3 | |||||||||||||||||||||||||||||||
| Adjusted profit before tax | — | — | — | — | — | — | — | — | — | — | — | — | vs 12.1 | — | vs 25.3 | — | — | ||||||||||||||||
| Tax charge | vs (0.14) | ||||||||||||||||||||||||||||||||
| Profit for the year | vs 0.75 | later 22.5 | |||||||||||||||||||||||||||||||
| EBITDA | |||||||||||||||||||||||||||||||||
| Adjusted minus statutory PBT | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||
| Basic EPS | |||||||||||||||||||||||||||||||||
| Diluted EPS | — | — | — | — | |||||||||||||||||||||||||||||
| Adjusted EPS | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||
| Dividend per share | — | — | — | — | — | — | — |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
32 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Full-year contribution from the July 2024 Peters Surgical acquisition
Group revenue rose 29% to £228.9m, driven by growth in Surgical, Woundcare, and a full-year contribution from Peters Surgical; Peters Surgical contributed £74m of revenue in 2025
page 22Sutures, Clips and VTO growth
Revenue up 64% to £82.7m (2024: £50.4m) at both constant and reported currency
page 5Peters Surgical / Syntacoll dilution on Surgical margin
Surgical adjusted operating margin decreased 260bps to 19.6% due to the dilutive impact of Peters Surgical and annualisation of the lower-margin Syntacoll business
page 31Woundcare restructuring and mix shift to higher-margin categories
Woundcare adjusted operating margin increased 230bps to 8.5%; restructuring achieved targeted cost savings and a refocus on higher-margin OEM dressings and bulk materials partnerships
page 31£5.1m charge: Integration costs (Peters Surgical/Syntacoll integration project - consultancy and internal integration team)
page 120CEO Chris Meredith: 'Guided by our new purpose, our strategy is delivering through an expanded portfolio, improving efficiencies and growing global presence, as we enter 2026 well positioned to continue building momentum.'
page 22Potential site closures announced internally in January 2026 (four sites in Germany, one in Czechia), provisional closure dates in March 2027, arising from Peters Surgical/Syntacoll integration; financial impact still being assessed. No other material events subsequent to 31 December 2025.
page 148Progressive dividend policy referenced in the business model ('track record of progressive dividend increases'). Board proposes an increased final dividend of 2.01p per share (2024: 1.83p), bringing total FY2025 dividend to 2.86p, up 10% (2024: 2.60p). Final dividend subject to shareholder approval, payable 26 June 2026 to shareholders on the register at 29 May 2026; not recognised as a liability at year end (total proposed final dividend £4.348m).
page 5Unqualified ('true and fair') audit opinion from Deloitte LLP (signed by Matthew Hughes ACA, Senior Statutory Auditor, 1 May 2026). Group materiality £0.95m (2024: £1.0m), 4% of forecast pre-exceptional PBT; performance materiality 70%. Sole Key Audit Matter: revenue recognition timing around the year-end. Full-scope audit work covered AMS Ltd, Resorba Medical GmbH and the Peters Surgical Group, together 84% of group revenue / 98% of group PBT. Going concern: Directors adopted the going concern basis, supported by £18.0m cash, an £55m term loan plus £30m revolving credit facility (£6m drawn, £24m available), both maturing April 2028, covenants of interest cover ≥4.0x and net leverage ≤3.0x (EBITDA/finance charge 11.8x; net debt/EBITDA 1.0x at 31 Dec 2025), and 12-month stress-tested cash flow forecasts; no material uncertainties identified.
page 104- Lack of growth - income shortfall, impact on market capitalisation, loss of competitive advantagep.37
- Increased business complexity from organisational and operational scale (enlarged suture portfolio)p.37
- Poor return on investment from R&D - income shortfall, loss of key partners, misidentification of new technologiesp.37
- Poor execution and/or integration of acquisitions - impact on Group performance/market cap, reputational loss (trend: increasing)p.37
Read from C000031-AR-2025-ch.
32 annual reports read, FY1994 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (32)
FY2026Next report expected 8 May 2027