Corin reports double-digit sales increase in 2011

Corin has published its financial report for the 2011 business year, highlighting a 12 per cent year-on-year increase in group sales.

The medical technology firm's revenues for the year came to 47.9 million pounds, with hip product sales surging by 43 per cent during the period, while US sales represented a growing proportion of the overall total.

Growth in these areas helped to more than offset declining knee portfolio sales and regulatory issues affecting the Australian market, while progress was also made on the development of the new Unity knee product.

Peter Huntley, Corin's chief executive, said: "The excellent growth in our range of new hip products in a number of geographies demonstrates the traction that our innovative product portfolio is now gaining."

He added that 2012 has also started strongly, with the company set to benefit from its expanding presence in the US, the world's largest orthopaedic market.

This comes after the company demonstrated a number of new products at the American Academy of Orthopaedic Surgeons annual meeting last month, including its Uniglide, Rotaglide Plus and Zenith offerings.