Surgical Innovations has materially narrowed its H1 pretax loss to £58,000, from a year-earlier shortfall of £1.9m. Revenue came in at £3.0m, from £2.6m. "Revenues in the second half of the year to date have continued to outperform the corresponding period last year, and indications of customer demand for the remainder of the year are satisfactory," the company said. "Margins are expected to benefit from recent fluctuations in currency, with the majority of exports priced in local currencies and a cost base primarily priced in Sterling," it added. "With net inventory levels now within target range, production output has been progressively increased, which is expected to further improve gross margins and provide scope to counter competitive pressures. "Our focus on innovation, productivity, exporting and excellence in products and service continue to deliver improving results and open new opportunities to develop the business. Accordingly we look forward with confidence."
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