2nd Sep 2015 08:27
LONDON (Alliance News) - LiDCO Group PLC on Wednesday said revenue for the first half is expected to be similar to the corresponding period the prior year, and expects to break even in the year as a whole before the costs of replacing its chief executive earlier this year.
The cardiovascular monitoring company said its results will be weighted to the second half, which it expects to be profitable with "significant" revenue growth over the first.
It said results for the year as a whole are expected to be "broadly" break-even, before costs related to replacing Terry O'Brien with Matthew Sassone as chief executive.
"We continue to see a number of positive clinical studies reinforcing the use of our products to improve high risk surgery outcomes and increased demand being driven as a result of national audits of high risk surgical outcomes. The opportunities in the US are very encouraging. In the second half we will start to execute on the strategic and tactical plans to drive greater growth," Sassone said in a statement.
LiDCO will report interim results for the year to July 31 on October 13.
Shares in the company were untraded on Wednesday morning in London at 9.26 pence.
By Samuel Agini; [email protected]; @samuelagini
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