StockMarketWire.com - Deltex Medical Group said it expected to report positive half-yearly adjusted earnings even as revenues slipped in the first half of the year.
Total revenues for the half-year ended 30 June 2019 fell to 2.0m from £2.3m after the group re-based itself during the second half of 2018, as previously reported.
Total revenue in the USA was fell to £0.7m from £0.8m a year earlier, as revenue of about £0.1m recognised for orders received right at the end of June could not deliver within the first half.
The re-based US operations now consistently contribute monthly positive earnings (EBITDA) to the consolidated results, the company said.
International revenues were fell to £0.6m for the half from £0.7m a year earlier, pressured by the impact of its French distributor, which had continued to make inventory reductions due to 'the lower level of its probe sales made during the implementation of the previously announced Paris0 Hospital tender,' the company added.
UK revenues fell to £0.7m from £0.8m amid the continuing difficult trading conditions experienced with the NHS.
'Trading for the first six months was in line with the Board's expectations, and we expect the outturn for the full year to be in line with market expectations,' said Nigel Keen, Deltex Medical's Chairman.
At 10:21am: [LON:DEMG] Deltex Medical Group PLC share price was +0.05p at 1.5p
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