Thursday, September 25, 2008

News: Rotherham's Inditherm reports first profit


The latest financial report from Rotherham based Inditherm plc shows that the first half of 2008 has resulted in a pre-tax profit for the first time in the company’s history. Inditherm's energy efficient polymer technology is used in heating mattresses, pipework, sports pitches, storage vessels and medical treatments and the company now works with over 30 medical distributors and overseas partners. Turnover increased by 43% to £1,261k, boosted by sales to American firm, Smiths Medical. Progress in the USA has been slow but the CosyTherm neonatal range has been launched and is starting to attract increasing interest. CosyTherm is now firmly established as market leader in the UK and Inditherm hope this sector will show strong growth over the coming year. The company now has a more focused approach in industrial and construction sectors which has delivered considerably improved margins although orders are down. Product development on the use of Inditherm's technology in the pre-cast concrete market is being completed and the £199,000 order to supply a pitch heating system for Aston Villa's new training ground has recently been carried out. Despite making a profit in the first half of the year, Chairman, Mark Abrahams gave a cautious outlook: "We anticipate making a loss in the second half of the year, although underlying growth in Medical should drive the business towards break-even in the foreseeable future. Results in the first half have shown how close the balance is now between profit and loss in the business." Inditherm Medical will be exhibiting their range of patient warming systems at the Association for Perioperative Practice’s flagship event next month.
Inditherm website


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