Revenue and pre-tax profits took a hit at a global surgical and advanced wound care specialist, which is headquartered in Cheshire, during 2020.
Winsford-based Advanced Medical Solutions has reported a revenue of £86.7m for the 12 months to December 31, 2020, down from £102.3m in 2019.
The company's pre-tax profits also fell from £24.2m to £10m over the same period.
In a statement to the London Stock Exchange, the business confirmed that its financial performance had been "heavily impacted" by the Covid-19 pandemic.
The business operates in more than 75 countries, has in excess of 700 employees and nine manufacturing and research and development locations in the likes of Russia, Germany and France.
Chief executive Chris Meredith said: "In what was a very challenging year for everyone, I am pleased with how the team and the business performed and the group closed the year in line with current consensus forecasts.
"Despite the severe Covid-19 disruption, the group remained profitable and generated strong operational cash flows, whilst continuing to invest in key projects and an increasing dividend with significant progress across many of the group's key strategic initiatives.
"The progress made on LiquiBand XL, Sealantis and the Fix8 PMA, as well as the acquisition of Raleigh will be catalysts for accelerated growth as elective surgery volumes recover.
"Looking forward, the group saw a continuing gradual recovery over the last two quarters of 2020 and 2021 has started well with a healthy order book in both business units.''
AMS Group was founded in 1991 and was originally set up to offer research and development, manufacturing and sales and marketing capabilities.
The group acquired Raleigh Adhesive Coatings in November 2020 for £22m.
