LiDCO Group plc : Interim Results for the six months ended 31 July 2013

01 October 2013

LiDCO (AIM:LID), the hemodynamic monitoring Company, today announces its Interim Results for the six months ended 31 July 2013, which benefit from the wider adoption of intraoperative fluid management technology by the NHS. The Company remains on track to report a pre-tax profit for the full year.

Financial Highlights

• Total revenue up 27% to £4.24m (2012: £3.35m)
• LiDCO product sales (excluding third party products) up 36% to £3.36m (2012: £2.48m)
• UK revenue (excluding third party sales) up 48% to £2.24m (2012: £1.51m)
• Export sales up 16%
• Monitor revenues up 55% to £0.96m (2012: £0.62m)
• Disposable revenues up 31% to £2.27m (2012: £1.73m)
• Gross profit up £644,000 to £2.81m (2012: £2.16m)
• Loss before tax* reduced to £70,000 (2012: £406,000)
• Loss per share 0.06p (2012: 0.18p)
• Cashflow positive with cash of £2.29m at period end (31 Jan 2013: £2.06m)

* before share based payments

Operational Highlights

• 180 monitors installed in the period (2012: 151); 74 surgical monitors (2012: 27) installed in the UK
• Disposable unit sales up 20% to 26,105 (2012: 21,845), with surgical disposables sales up 36%
• UK surgical disposables unit sales up 75% to 11,015 (2012: 6,295)
• Launch in Europe of LiDCOrapidv2 monitor with Unity software with continuous non-invasive blood pressure monitoring and depth of anesthesia parameter
• FDA clearance of LiDCOrapidv2 with depth of anesthesia monitoring
• Grant of patent in Japan for LiDCOrapid graphical user interface

Post Period End

• FDA clearance for LiDCOrapidv2 with continuous non-invasive blood pressure monitoring

Commenting on the results Terry O'Brien, Chief Executive Officer, said: "We are delighted to see strong sales growth in the first half, driven by higher LiDCO product sales in both the UK and export markets. We expect this momentum to continue in the second half, particularly now that the LiDCOrapidv2, with both non-invasive and depth of anesthesia options, is available for sale in the EU and USA. We remain confident about delivering cash generation and profits for the full year."

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