7th Jul 2022 14:21
(Alliance News) - Deltex Medical Group PLC on Thursday said that revenue was up in the first half of the year, however its performance remains constrained by Covid-19 restrictions.
Revenue for the six months ended June 30 was up 9% to GBP1.2 million from GBP1.1 million the year prior.
However, it said that activity levels in the USA and UK continue to be adversely impacted by Covid-19, with restricted access into hospitals' operating rooms and shortages of clinical staff causing disruption to elective surgery volumes.
The board expects the number of elective procedures in the UK and US to increase in the second half of 2022 as restrictions loosen.
Also, it said that it is launching its next generation TrueVue monitor in Europe, which is expected to drive higher revenues.
Chair Nigel Keen said: "Given the subdued state of the group's core elective surgery markets, combined with ongoing challenges associated with Deltex Medical's clinical educators gaining access to key accounts, we are pleased to see a return to growth in the first half.
"It is encouraging to see our international division continue to grow strongly and we expect growth to return in the UK and USA markets as Covid-related restrictions continue to ease," Keen added.
Shares were untraded at 1.10 pence each in London on Thursday afternoon.
By Sophie Rose; [email protected]
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