StockMarketWire.com - Deltex Medical Group said Friday it expected to deliver positive earnings in 2019 following improved performance in the final quarter of last year.

The company said improved fourth quarter 2018 financial performance 'leads the Board to expect that the Group will be (earnings) EBITDA positive in 2019.'

Revenues for the year ended 31 December 2018 were slightly behind expectations at approximately £5.0m, below the £5.9m reported last year. Full year losses before exceptional items were expected to be broadly in line with market expectations.

The Group implemented a new strategy, which limited revenue growth, but led to a 'significant' reduction in operating costs, particularly in relation to sales and marketing.

'During the initial phase of the implementation of the new strategy, lower levels of revenues were expected as the group focussed on driving revenues from existing customers already using its high margin TrueVue Doppler probes,' the company said.


At 9:01am: [LON:DEMG] Deltex Medical Group PLC share price was +0.18p at 1.13p



Story provided by StockMarketWire.com