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Minimally invasive surgery technology group Surgical Innovations said it expected to post a small annual loss, as expected, after its revenue improved in the second half.
Sales for the second half of the year through December were around 16% higher than the first half, resulting in revenue for the full year of about £9.1 million.
That compared with full-year revenues of £6.3 million in 2020 and £10.7 million in 2019 as a pre-pandemic comparative.
Underlying gross margin remained within target range, the company said, adding it expected to positive adjusted earnings before interest, tax, depreciation and amortisation, with a small adjusted pre-tax loss.
'Global healthcare markets continue to be buffeted by Covid-19 and the emergence of the Omicron variant represents an additional challenge for hospitals trying to manage staff absences as they self-isolate,' the company said.
'The start of this year has seen a number of NHS Trusts reduce or postpone elective surgery, and consequently we remain cautious as a combination of seasonal flu and Omicron could further slow hospital activity in elective surgery in the coming months.'
'A similar picture globally is being reported by our international partners.'
'Reflecting these factors and uncertainty regarding the timing and scale of recovery from Omicron, the board considers that formal earnings guidance should continue to be withheld until final results are announced in March.'