LID.L Regulatory News (LID)

LiDCO Group Plc

("LiDCO" or the "Company")

Trading update

LiDCO Group Plc (AIM: LID), the cardiovascular monitoring company, provides the following trading update for the six months ended 31 July 2013.

LiDCO has traded well in the first half of the year. The strong performance outlined in the recent AGM statement has continued with significant sales growth and the Company remains confident of meeting market expectations for the full year.

Revenue for the six months ended 31 July 2013 was up 27% to approximately £4.2m (2012: £3.3m). Whilst the first half will show a small loss, the Company expects to report a profitable full year at the pre-tax profit level. Net cash increased during the period to £2.3m (31 January 2013: £2.1m).

LiDCO product sales (excluding third party products) were up 36% to £3.4m (2012: £2.5m) and a total of 180 monitor units were installed, up 19% on the previous period (2012: 151).

Sales in the UK have been particularly strong with UK sales (excluding third party products) up nearly 50% to £2.2m (2012: £1.5m). In the UK 74 surgical monitor units were installed in the first half compared with 27 units in the same period last year and well over half of these have been to NHS hospitals using LiDCOrapid products for the first time. This takes the total number of installed LiDCOrapid monitor units in the UK to 305 units. UK sales of our surgical disposables units grew by 75% to 11,015 units (2012: 6,295 units).

A major focus of the first half has been to concentrate on the wider adoption of intraoperative fluid management technology in England that is emerging in line with NHS guidance. Longer term the Company continues to target international revenue growth and the Company remains in discussions with potential distribution partners to expand its US customer base, as well as other international territories.

Commenting, Terry O'Brien, Chief Executive Officer of LiDCO, said:

"We are delighted with the performance of the business in the first half which has been as a direct result of the accelerated adoption of intraoperative fluid management technology across the NHS in England, where adoption and use helps hospital trusts to achieve CQUIN funding requirements. The increased number of LiDCO monitors in NHS hospitals throughout England means that an additional 5,000 patients can benefit from better fluid management through the use of our technology and augurs well for the NHS's aim to improve high risk surgery patient outcomes."

The Company will announce its interim results for the six months ended 31 July 2013 on Tuesday, 1 October 2013.

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, 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:

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 get 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

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

LiDCO Unity Software: The software incorporated into LiDCOrapid v2 allows the LiDCOrapid monitor to co-display Covidien's level of consciousness parameter and add the convenience of CNSystem's* continuous non-invasive blood pressure monitoring. This will address a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors. 

* CNAPTM is a trademark of CNSystems Medizintechnik AG.

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

LiDCO Distribution Network:

LiDCO's strategy is to sell 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 sales office is in Cambridge, its manufacturing facility and headquarters are in London and its shares are traded on AIM.