StockMarketWire.com - Deltex Medical Group said improved trends seen in the second half of 2016 continued into the first half of this year and had driven a return to growth in revenues.

The group saw overall revenue growth of £0.2m (7%) to £2.9m with US revenues ahead by £0.3m (35%) and US probe revenues ahead by over 20%.

Chairman Nigel Keen said: "The improved trends seen in the second half of 2016 have continued into the first half of 2017 and driven a return to growth in Group revenues.

"Both the level and rate of cash consumption in the first half of 2017 were substantially reduced from the first half of 2016. We enter the traditionally stronger second half with underlying growth in all our key export markets, a more stable UK position, higher probe margins and lower costs. "We have made substantial progress towards evolving the Company from a single technology to a multiple technology business and are now starting to offer the three major modern advanced haemodynamic monitoring technologies on a single platform."

The group also announced that it had raised £550,000 through a placing of 16,296,296 new ordinary shares with existing and new private shareholders at 3.375p apiece.

It said the proceeds would be applied to working capital




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