Deltex takes a hit on Middle East unrest

14th Sep 2011 11:24

Deltex Medical, which makes technology to measure blood flow in patients undergoing surgery, saw its shares fall today after it widened losses in the first half of the year.Pre-tax losses increased to £730,000 in the first half, up from £663,000 in 2010. This equated to a loss per share of 0.5p.Sales were up 2% to £3.0m overall, but Deltex was hit by a drop in exports to the Middle East due to political unrest. It saw a 29% increase in UK sales to £2m.The firm said it hoped to benefit from efficiency savings in the NHS after NICE estimated its CardioQ-ODM product brought average savings of £1,100 per patient through reductions in post-operative complications and lengths of hospital stay."We are very well positioned to create and exploit opportunities for accelerated growth as health systems focus increasingly on improving outcomes and reducing costs," said chairman Nigel Keen.The company's shares fell 2.5% following the announcement.