16th Sep 2015 09:52
LONDON (Alliance News) - Deltex Medical Group PLC on Wednesday said its first-half pretax loss widened, hit by lower revenue and bigger costs, although it was optimistic about sales enquiries growth in the US.
According to the company, its CardioQ-ODM Oesophageal Doppler Monitoring systems measure blood flow in the central circulation in real time. It wants to make oesophageal Doppler monitoring a standard of care for patients in both the surgical and critical care markets.
Deltex Medical's pretax loss widened to GBP2.2 million in the six months to June 30 from GBP1.6 million in the corresponding half the prior year, as revenue fell to GBP2.7 million from GBP3.0 million and costs rose to GBP3.9 million from GBP3.7 million.
Chairman Nigel Keen said the company has entered the second half with greater focus on export markets, particularly the US, where growth in sales enquiries has been ahead of its initial forecasts.
"We are building a strong pipeline of US accounts that we expect to contribute to more rapid growth in sales and we are on track with our plans to build a strong platform for medium-term national rollout in the USA," Keen said in a statement.
"Traction for our products is growing in other international markets as acceptance of the need for optimal intra-operative fluid management is broadening beyond the UK where, in response to more challenging UK market conditions, we are taking steps to maximise the cash in-flows we generate from our UK sales operation," Keen added.
Shares in Deltex Medical were down 9.9% at 4.73 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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