Advanced Medical Solutions reported a fall in profit as revenue growth was hampered by delayed product launches and a ramp up in competition.
For the six months ended 30 June 2019, pre-tax profit fell 17% to £12.8m as revenue rose 2% to £48.7m.
The fall in revenue comes as the company recorded a 27% fall in US LiquiBand sales, blaming destocking, competitor activity and delayed product launches.
'The group continues to perform well and I am pleased to report another period of growth. Despite disappointing trading in the US for LiquiBand, which we expect to recover next year,' the company said.
The company proposed a 19% increase to the interim dividend to 0.50p per share from 0.42p last year.
Looking ahead, the company said trading for the full year was in line with the board's expectations.
At 8:15am: (LON:AMS) Advanced Medical Solutions Group PLC share price was -19.25p at 261.75p