LiDCO narrows loss in first half

Hemodynamic monitoring company LiDCO announced its unaudited interim results for the six months to 31 July on Tuesday, with product revenues up 10% to £3.03m.

The AIM-traded firm’s total product revenues, including third party products, was up 5% to £3.77m, with US revenues up 37% to £0.68m.

Its loss before tax, before share-based payments and 2015 exceptional items, was £309,000 - narrowing from £525,000 at the same time last year.

That equated to a loss per share of 0.19p, compared to 0.36p.

Net cash inflow for the period was £498,000, compared to an outflow of £124,000 a year ago, while cash balances at 31 July stood at £2.09m, compared to £1.59m at the start of the period.

“Our performance in H1 is in line with expectations as we execute on our strategy,” said CEO Matt Sassone.

“We remain focused on building on our solid platform in the UK whilst we pursue additional growth from our substantial US opportunities and other distributor markets.”