Deltex Medical Group plc (LON:DEMG) has started to see revenue from its blood flow monitoring probes rise again as US sales pick up strongly.
Income from probes (used in patients in surgery or recovery) rose 4% over the year to £5.4mln and by 10% to £3.1mln in the second half.
The AIM-listed group now has its oesophageal Doppler monitoring (ODM) equipment in use in thirty major US hospitals after two more in the north east of the country signed up.
Deltex’s main customer remains the NHS but it has had to find new markets due to the cash crisis that has affected the health service in recent years.
Reflecting the differing fortunes in these two markets, 2016 sales are expected to be flat at £6.3mln.
US sales rose by 40% to £1.9mln and were 50% higher in the second half thanks to the weaker pound.
The order run rate going into 2017 is also 50% higher, the company said.
Sales in the US now match those of the UK, where revenues dropped 26%.
International sales rose by 20% to £1.7mln led by France and Scandinavia.
Nigel Keen, chairman, said: “Growing sales traction in the USA, our main focus market, and in other International markets, together with success in stabilising our UK business mean that our core revenue stream of high margin disposable probe sales has returned to growth in the second half.”
This sales traction was improving Deltex’s operating and cash performance, he added.