Deltex Medical Group PLC (LON:DEMG) posted flat revenues in 2015 as growing sales of its surgical blood monitoring probes abroad offset reduced demand from the NHS. Nigel Keen, chairman, said the company had made significant progress despite the UK health service’s cash problems. “Total export sales were approximately 20% ahead with over 40% growth in the USA, which has become our key territory for development,” he said. The company has now increased its US hospital customer base to 23 from six at the start of 2015. Revenues overall were little changed at £6.4mln (£6.5mln), but the split between the UK and elsewhere was marked. US sales jumped by 41% to £1.5mln with the rest of the world, particularly France, seeing a 27% jump to £1.4mln that would have been better but for the drop in the value of the euro. UK revenues though fell by £1m as probe sales dropped by 21% with a further 20% fall in the first three months of 2016. Losses for the year rose to £3.6mln from £3.1mln. Trading in the UK will continue to be challenging, but the overseas success will drive overall group growth going forward, Keen added.
Deltex sales steady as overseas momentum balances out NHS
“Total export sales were approximately 20% ahead with over 40% growth in the USA