Sales in the year to the end of December increased by 8% to £5.6m and the gross margin improved to 75% from 72% in 2008.

Cash consumed by operations halved before one-off payments relating to exceptional items (2009: £1.2m; 2008 £2.4m) and the firm had cash of £1.5m at the end of the year.

Chairman Nigel Keen said: "Deltex Medical is entering an exciting phase in its development. Robust clinical evidence, health economic benefit and convergence with key health policy objectives are becoming vitally important pre-requisites of success for developers of innovative medical technologies.

"Deltex Medical is well positioned to deliver sustainable increases in shareholder value through generating returns on the investments it has made to develop a compelling case in all these areas."

Story provided by Business Financial Newswire