- Lidco said it was in a 'healthy position' to deliver against management expectations set at the start of the year following 'exceptionally' high sales in the first quarter and persistent recurring revenue.

Sales jumped 179% to £4.4m for the three months ended 30 April 2020, significantly exceeding the £3.5m of sales achieved in the first half of last year.

The exceptional coronavirus-led demand for its hemodynamic monitors that had boosted sales appeared to 'have abated somewhat in the earlier part of Q2,' the company said.

'There are, however, tentative expectations that elective surgeries will return to usual levels in the coming months and initial signs that the company's key markets are beginning to return to more normal conditions,' it added.

The company continued to expect recurring revenues from its high usage programme and consumables, which together represented 75% of total sales last year, should continue to generate revenue in the remainder of the year in line with the levels achieved in the latter part of fiscal 2020.

At 10:04am: [LON:LID] LiDCO Group PLC share price was -0.63p at 7.63p

Story provided by