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Wound care specialist company Advanced Medical Solutions forecast adjusted profit to more than halve in the first half of the year following a £15m hit to revenue from Covid-19 disruptions.
For the six month period ended 30 June 2020, adjusted pre-tax profit was expected within the range of £5m-to-£6m, down from £12.8m on-year, while sales were expected to fall to approximately £39m from £48.7m.
'As previously reported, COVID-19 disruptions impacted Group revenues by approximately £15m in the second quarter of 2020,' the company said.
Looking ahead, the company said it was starting to see signs of recovery in some markets and expected the sales impact of COVID-19 to gradually reduce in the second half of 2020, with both accident & emergency and elective surgery volumes recovering to more normal levels into 2021.
'Our current internal forecasts suggest that the overall (Covid-19) impact on revenues will be approximately £7m in the third quarter of 2020 and approximately £3m in the fourth quarter of 2020.'
At 9:21am: (LON:AMS) Advanced Medical Solutions Group PLC share price was -3.75p at 241.25p