21st Sep 2020 13:35
Deltex Medical Group PLC - medical devices manufacturer based in Chichester - For half year to June 30, pretax loss widens to GBP578,000 from GBP307,000 a year prior. Revenue falls 40% to GBP1.2 million from GBP2.0 million due to a halt in elective surgical procedures as hospitals concentrated on the Covid-19 pandemic. Looking ahead, Deltex notes good progress on new product development and securing grant funding
"Although the second half is expected to be an improvement on the first half of 2020, the ongoing elective surgery delays will result in revenues being materially behind market expectations. We expect revenue levels in 2021 to recover to previous levels seen in 2019," says Chair Nigel Keen.
Cash as at June 30 totals GBP568,000, down from GBP595,000 a year before.
Current stock price: 1.47 pence
Year-to-date change: up 5.0%
By Ife Taiwo; [email protected]
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