Creo Medical narrows operating loss as device revenue rises 45%

Creo Medical ($CREO) increased first-half revenue to £3.2 million from £2.2 million and reduced its underlying continuing operating loss to £4.9 million from £6.7 million. Underlying operating costs fell 15% to £7.9 million as the surgical-device company simplified its operating model. Management maintained confidence in full-year revenue growth of 50%–60%, supported by a traditionally stronger second half.

The figures indicate improved commercial traction, although losses still exceed revenue and additional growth is needed to absorb the cost base. Creo is continuing efforts to sell its remaining 49% interest in Creo Medical S.L.; discussions include the original proposed buyer and other potential acquirers. The existing heads of terms are non-binding, and a disposal has not completed. Expected proceeds therefore remain prospective rather than cash already available to fund operations.

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