StockMarketWire.com - Deltex Medical Group reported Monday an uptick in pre-tax losses owing to a strong prior year comparator for monitor sales and a drop in probe revenues amid a 'number of one-off events'.

For the six months to 30 June 2018, pre-tax losses were £1.19m, compared with a loss of £1.09m a year earlier, revenues decreased to £2.33m from £2.88m a year earlier.

Revenue was held back by a decline in probe revenues to £1.98m from £2.38m, though cost cutting kept a lid on the decline, the company said.

'The successful £2,050,000 fund raising in February 2018 has put the Group in a stronger financial position - allowing us to improve our business structure,' said Nigel Keen, Chairman of Deltex Medical.

'We made a number of changes to the Group in the first half - the appointment of a new CEO in June and a revised business strategy - which mean that Deltex Medical is much better positioned for the second half of the year and 2019.'

'The lower cost base that the business now operates has given the Group a stronger platform from which to develop.'

'Strategically we are now prioritising profitability over securing new customers - and believe that by working more closely with our existing customers we will start to generate incremental revenues more quickly from new product launches on the TrueVue System.'


At 9:52am: [LON:DEMG] Deltex Medical Group PLC share price was -0.28p at 1.15p



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