Patient monitoring equipment developer and supplier LiDCO Group says that first quarter trading was better than expected.
This will help to underpin forecasts that the loss will almost halve to £1.1m this year.
Revenues were 38% higher with the US revenues 69% higher. This is due to the success of the high usage programme with more contracts added this year. Recurring revenues were 42% ahead.
There was strong growth from distributors, but this appears to be a question of timing and is unlikely to be replicated.
The share price had been trading at around its low, but the positive news helped it rise by one-quarter to 5p. There should be £1.2m in the ban at the end of January 2020.
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