Thursday, September 29, 2011

News: Inditherm post increased revenue and reduced losses


Innovative Rotherham company, Inditherm has announced their latest financial results showing an increase in revenue and a reduction in losses for the six months ended 30 June 2011.

The interim results from the AIM-listed Manvers firm showed that revenue increased by 10% to £817k compared to £740,000 in 2010 and the pre-tax loss for continuing operations had been reduced by over 40% to £74,000 compared to a loss of £124,000 in 2010.

The board stated that they had been encouraged by growth in orders in quarters two and three after a disappointing first quarter.

The company has focused on the medical sector and the highlight of the quarter was when The National Institute for Health and Clinical Excellence (NICE) gave their final approval for Inditherm's innovative medical products. They issued guidance that supports the use of Inditherm patient warming systems for patients undergoing operations which carry risk of inadvertent hypothermia.

Inditherm products use low voltage carbon polymer technology to provide heat and unlike other forms of heating, there are no hot spots. In addition, the system ensures that every surgical patient can be warmed at the same running cost as a light-bulb.

Mark Abrahams, chairman of Inditherm, said: "After a slow start to the year, order intake in quarters two and three increased strongly compared with the same periods in 2010. This is encouraging and supports our belief that we can continue our growth.

"We believe that the recent NICE guidance in relation to our patient warming mattresses should stimulate faster growth in the UK medical market, linked with NHS budget cycles. Export orders continue to grow, as we benefit from our wider Medical distributor base and increasing market penetration.

"Divestment of the resource-intensive industrial activities has allowed us to reduce overheads and we believe that our focus on the medical segment is the best route to achieve profitability.

"Whilst we are expecting continued tough trading conditions, we are confident in our core medical business and the Board is continually evaluating ways of improving the business and maximising shareholder value."

The board did add that there remains uncertainty and associated delays in decision-making in the NHS but they predicted renewed optimism on the recent NICE guidance which should stimulate faster growth in the UK medical market.

Inditherm website


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