Heating technology firm Inditherm records a half year loss

Inditherm chairman Mark Abrahams
Inditherm chairman Mark Abrahams
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HEATING technology firm Inditherm was counting the cost of the squeeze on NHS capital spending yesterday, when it disclosed that it had suffered a half year loss.

The Rotherham-based company has created a carbon polymer that can be used to keep patients warm in operating theatres and recovery rooms. However, budget constraints mean it is taking longer than expected for NHS Trusts to adopt the new technology. In the six months ended June 30, Inditherm recorded a loss before tax of £173,000, compared with a profit of £4,000 in the same period last year. Revenue was £998,000, compared with just over £1m in the same period in 2013. Mark Abrahams, the company’s chairman, said the first half had been heavily influenced by the capital constraints in the NHS. However, case studies about the company’s technology in British hospitals and new marketing initiatives gave the firm encouragement that it can return to more buoyant sales levels in the year ahead. However, Mr Abrahams said he didn’t anticipate that the erratic order patterns would disappear.

He added: “The last 12 months have presented an abnormal situation in our home market, however there are clear indications that the appetite for our product remains. The growing installed base, and references that are derived, continue to strengthen our market presence and credibility, and should give NHS managers greater confidence to adopt Inditherm technology and realise the substantial cost savings it can offer.”

Inditherm said it had seen encouraging growth from its medical export business in the first half of 2014, with sales up 30 per cent on the same period last year. This improvement has been underpinned by a stronger performance in the Asia-Pacific region.