Shares digital

Mediwatch (MDW:AIM) – Finals PTP: -£0.8m (-£1.4m) Divi: n/a (n/a)

Losses narrowed and revenues increased thanks to an extensive sales and marketing campaign following the integration of new products acquired from Medtronic. The contribution of the US sales, marketing and distribution division also helped to boost revenues.

The year also saw the group increase its global sales network to 70 distributors and obtain CE approval for PSAwatch and its Bioscan reader system for the diagnosis of prostate disease. Mediwatch is continuing to work towards achieving FDA approval for PSAwatch.

Going forward, the company says it is entering an exciting period, but the main challenge will be to ensure it has the ‘resource and capability to match the anticipated demand for the growing product range’. Mediwatch was recently subject to takeover talk, although the group now says that it is no longer in such discussions. The shares slipped to 10.5p.

Shares says: Continuing progress in the US will be key to future growth.

by: Rachel Robson