Deltex Medical celebrates US growth, though UK sales shrink

The AIM-traded firm said its platform accounts increased from 17 to 24 in H1, and were now at 27.

International probe revenues were up 12% at £0.7m with total revenues up 19% - the strongest growth came from larger markets including France and South Korea.

UK probe revenues were down 36% at £0.8m, although there was improved performance in July and August.

Deltex’s operating loss reduced by 20% to £1.7m over the same time last year.

On a statutory basis, the company’s revenue remained broadly flat at £2.7m.

“Deltex entered the second half of 2016 with growing traction and sales in the US market along with continued growth and momentum in our other export markets,” said chairman Nigel Keen.

“Maintaining these established trends will see the group return to growth despite the challenging UK domestic market.”

Keen explained that Deltex has already done much of the work to create opportunities both for more rapid growth in the US and other export markets, and to stabilise its UK business.

“The growing sales traction, in the US and internationally, together with cost reductions already made, completed investment in margin improvement programmes and well advanced product development plans, mean the group is making good progress towards its key objective of moving through the operating cash break-even point."