Deltex Medical, an AIM listed firm which produces monitoring systems for post-operative patients, has fallen 9% this morning on news of restricted budgets in developed healthcare markets.
Europe's sovereign debt crisis has put significant pressure on government spending delaying or reducing expected sales of Deltex's equipment, which monitors blood flow to give doctors early warnings on a patient's condition.
Deltex saw a major order in the U.S. expected for the end of 2011 postponed into 2012.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the U.K the final nine months of the year were £200,000 behind the equivalent period of 2010.
Commenting on the results Deltex's Chairman Nigel Keen blamed the financial crisis for the company's difficulties: "Our revenue mix is being pushed from capital sales towards higher proportions of higher quality recurring revenue streams: we believe we have now absorbed the worst of the ensuing short term revenue loss from this transition."
Over the last 12 months Deltex is still up 19%.
-
Which UK region has the most in savings? Average savings by areaThe amount people have in their savings differs from region to region in the UK. How does your nest egg compare to those living nearby?
-
Doug and Mary Perkins: Specsavers’ clear-sighted foundersHelped by the deregulation of the sector in the 1980s and brilliant advertising, Mary Perkins and her husband Doug have taken Specsavers to the top of the optometry market
