LONDON (Alliance News) - LiDCO Group PLC Wednesday said it expects pretax profit for the year ended January 31 to be in line with expectations, compared with a loss of GBP260,000 a year earlier.
In a trading update ahead of its full-year results, the cardiovascular monitoring company said revenue for the year rose 20% to GBP8.6 million from GBP7.2 million in 2013, slightly ahead of market expectations.
Product sales, excluding third party products, were up 25% to GBP6.9 million from GBP5.5 million in the corresponding period.
Sales in the company's home UK market, excluding third-party products, rose 37% to GBP4.4 million from GBP3.2 million a year earlier.
LiDCO said 120 surgical monitors were installed in the UK compared with 77 last year, taking the total number of installed monitors in the UK to 350. It said UK sales of its surgical disposables grew by 59% to 23,570 units from 14,855 units in 2013.
LiDCOrapid provides physicians with immediate feedback on a patients' fluid and hemodynamic status.
"The growth in UK sales reflects the increasing adoption of intra-operative fluid management technology in England by the NHS in line with NHS guidance," the firm said.
LiDCO will publish its results on April 29.
The stock was trading at 25.25 pence Wednesday morning, down 1.12 pence or 4.3%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.