Lidco eyes second-half improvement after H1 revenues slips
Source - SMW
Hemodynamic monitoring company Lidco on Monday said it continued to expect to grow annual sales, led by a stronger second half after reporting a 'slow' first-half performance as revenues fell.
LiDCO first-half recurring revenues rose 11% to £2.52m, while total revenues fell 8% to £3.64m.
The company blamed the poor first-half performance on reduced capital sales, which weighed on short-term revenue generation.
In the UK, total revenues were down 9% to £2.38m, while In the USA, recurring revenues rose 61% to £0.58m.
Performance in the second half of the year, however, is expected to see a marked improvement driven by new customers.
'Whilst it has been a slow first half, the Company expects a much stronger second half as more customers sign up to the High Usage Programme, especially in the USA. As a result, the Board still expects the year to 31 January 2019 to be a year of further growth of LiDCO sales,' the company said.
At 8:45am: (LON:LID) LiDCO Group PLC share price was -0.25p at 5.63p