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Deltex Medical impacted by Covid-19 in 'a number of ways'
9th Jul 2020 11:37
(Sharecast News) - Output monitoring systems provider Deltex Medical warned on Thursday that trading had been affected in "a number of ways" as a result of the Covid-19 pandemic.
Deltex said total revenues had slumped 40% to £1.2m in the six months ended 30 June, mostly due to a decline in probe sales from elective surgical procedures as hospitals prepared for an influx of Covid-19 patients.
The AIM-listed group said this was partly offset followed by a two month period of "strong" growth in sales to intensive care units, predominately in the UK - where Deltex Medical's technology was used to assist clinicians working in NHS hospitals managing coronavirus patients.
However, Deltex added that once the number of Covid-19 cases started to decline across NHS hospitals, so to did the sales of its probes.
Chairman Nigel Keen said: "Covid-19 created opportunities and challenges for Deltex Medical in the first haIf. We were pleased to see the benefits that the group's technology brought to intubated CV-19 patients in ICUs at high risk of acute kidney injuries and we have renewed a number of important relationships with Intensivists in the UK.
"Given the potential activity levels associated with pent-up demand associated with elective surgery, it is at the moment too early to predict what the outcome will be for the full year and a further update will be provided at the time of the group's interim results."
As of 1135 BST, Deltex shares were down 13.30% at 1.30p.
Deltex said total revenues had slumped 40% to £1.2m in the six months ended 30 June, mostly due to a decline in probe sales from elective surgical procedures as hospitals prepared for an influx of Covid-19 patients.
The AIM-listed group said this was partly offset followed by a two month period of "strong" growth in sales to intensive care units, predominately in the UK - where Deltex Medical's technology was used to assist clinicians working in NHS hospitals managing coronavirus patients.
However, Deltex added that once the number of Covid-19 cases started to decline across NHS hospitals, so to did the sales of its probes.
Chairman Nigel Keen said: "Covid-19 created opportunities and challenges for Deltex Medical in the first haIf. We were pleased to see the benefits that the group's technology brought to intubated CV-19 patients in ICUs at high risk of acute kidney injuries and we have renewed a number of important relationships with Intensivists in the UK.
"Given the potential activity levels associated with pent-up demand associated with elective surgery, it is at the moment too early to predict what the outcome will be for the full year and a further update will be provided at the time of the group's interim results."
As of 1135 BST, Deltex shares were down 13.30% at 1.30p.