LID.L Regulatory News (LID)

11 August 2016

LiDCO Group Plc

("LiDCO" or the "Company")

Trading update and notice of results

LiDCO (AIM: LID), the hemodynamic monitoring company, provides the following trading update for the half year ended 31 July 2016.

LiDCO product revenues in the period are expected to be up 10% to £3.03m (2015: £2.76m) with total revenues (including third party products) expected to be up 5% to £3.77m (2015: £3.60m). Net cash inflow during the period was £0.50m with cash at the period end of £2.09m (31 January 2016: £1.59m).

In the USA revenues are expected to be up 37% to £0.68m. LiDCO is seeing high levels of hemodynamic monitoring technology adoption generally and even with a small team has been able to realise good growth from new customer acquisition. The Company's five year agreement with a large hospital group (as announced in 2015) made a small contribution to this growth as the Company started to realise some opportunities from individual hospitals and it continues to work with the group to achieve a more widespread roll-out.

Despite challenging conditions in the UK, LiDCO disposable revenues are expected to be £1.50m (2015: £1.34m) with unit sales 13% above the comparator period, pointing to the strength of the Company's technology. The Company's home market remains difficult with capital sales being suppressed for some time and buying cycles being extended. Despite this the Company's total LiDCO business in the UK grew 1% and with the pipeline of identified opportunities LiDCO remains confident that it can expect continued growth of LiDCO product sales moving forward in the UK.

Overall, revenues in markets outside of the UK and USA were up 13% helped by particularly strong sales in Europe and the recommencement of both capital and disposable sales to the Company's Japanese partners. In the period LiDCO signed new distribution agreements for Saudi Arabia, Canada and Singapore although given the registration requirements of each of these countries the revenue impact of these new markets is unlikely to be realised in this financial year.

Overall LiDCO disposable unit sales globally are expected to be 9% above the same period last year.

The Company intends to announce its interim results to 31 July 2016 on 11 October 2016.

Commenting, Matt Sassone, Chief Executive Officer of LiDCO, said: "Our performance in H1 is in line with the plan that I outlined to shareholders, growth driven by realising the opportunities in the USA and our distributor markets, building on a stable foundation in our core UK market."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

For further information, please contact:

About LiDCO Group Plc (www.lidco.com)

LiDCO is a supplier of non-invasive and minimally invasive hemodynamic equipment to hospitals used to monitor the amount of blood flowing around the body and ensure that vital organs are adequately oxygenated. LiDCO's products facilitate the application of hemodynamic optimisation protocols for high risk patients in both critical care units and in the operating theatre. 

Increasingly clinical studies are showing that the optimisation of patients' hemodynamic status in high risk patients produces better outcomes and reduced hospital stay. LiDCO's computer-based technology, developed at St Thomas' Hospital in London, has been shown to significantly reduce morbidity and complications, length of stay and overall costs associated with major surgery.

Key Products:

LiDCOunity: a hemodynamic monitor that combines the full suite of LiDCO technology (non-invasive, minimally invasive and calibrated technologies) into one platform. Designed to have the flexibility to adapt to a patient's changing acuity, the product enables clinicians to seamlessly transition between non-invasive, minimally invasive and calibrated hemodynamic monitoring.

LiDCOplus: a computer-based platform monitor used in the Intensive Care Unit for real-time continuous display of hemodynamic parameters including cardiac output, oxygen delivery and fluid-volume responsiveness (PPV% and SVV%).

LiDCOrapid: a cardiac output monitor designed specifically for use in the operating theatre for fluid and drug management. The monitor enables anaesthetists to receive accurate and immediate feedback on the patient's fluid and hemodynamic status - a key measure of overall well-being before, during and after surgery. The LiDCOrapid provides:

· early and rapid warning of hemodynamic change to aid choice of therapeutic route: fluid or drug

· quantification of hemodynamic response guidance on effective delivery of fluids to ensure the right amount at the right time

The software incorporated into LiDCOrapid allows the LiDCOrapid monitor to co-display Medtronic's level of consciousness parameter ('BISTM')* and add the convenience of CNSystem's continuous non-invasive blood pressure monitoring ('CNAP')**. This addresses a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors. 

LiDCOview: an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data.

*BISTM and Bispectral Index are trademarks of Medtronic registered in the US and foreign countries.

**CNAPTM is a trademark of CNSystems Medizintechnik AG.

LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream.

LiDCO Distribution Network:

LiDCO sells directly to hospitals in the UK and USA and through a network of specialty critical care and anaesthesia distributors in the rest of the world.

LiDCO's headquarters are in London and its shares are traded on AIM.