|Master Investor Magazine
Never miss an issue of Master Investor Magazine – sign-up now for free!
The share price of AIM-listed LiDCO Group (LON:LID) jumped 11.58% to 5.30p (as of 13:15 GMT) after it said that product revenues for the year ended 31st January were up by 19%. Management said that this increase more than outweighed the reduction from lower margin third-party sales, leading to a 3% improvement in overall revenue as well as higher gross margins.
CEO Matt Sassone commented: “After a strong first half in FY20, the team succeeded in delivering an even better second half performance. Our differentiated SaaS business model continues to drive our growth with the number of HUP monitors installed globally increasing nearly 75% and this has contributed to our expansion in recurring revenues. I am also pleased with our international sales growth as we now have the majority of our LiDCO product sales outside the UK, where we retain our market share and leadership position. This excellent performance leads to the expectation that we will report positive adjusted EBITDA for FY20“.