Hi all
pretty new to all this. I have pumped some into Deltex - looks like a strong product with good growth. Could be a steady gainer.
Does anyone else have this, and anyone have some research on it? Someone with more experience than me!
thanks in advance.
Grajul

Directors buying

What a pathetic end to the year. This time last year I thought things could not get worse and yet the sp has almost halved again.

It's no surprise €l Greco, this about sums them up.

Trading Update.

The following says it all.

Overall revenues of £5.9m (2016 £6.3m)
International revenues down by 5%
UK revenues reduced by 18%
December sales were down with c.£0.3m of bulk orders not repeated from 2016
Loss for 2017 expected to be higher than market expectations
Cash at 31 December of £0.2m (2016: £0.6m).

The rest means nothing, because they said almost the same, word for word at the same time last year................And it changed nothing..............................

Discussions on the future funding of the Group are in progress and the Company expects to be able to make a further announcement in the near future(again).

However, Deltex enters 2018 positioned to benefit from momentum in the USA and other focus export markets. The UK continues to be a difficult market due to NHS funding constraints (change enters 2018 for 2017 and its same again).

We have substantially reduced our rate of operating cash consumption (again)

The Company is currently in the implementation phase of achieving this goal in a number of territories worldwide, operating directly in the UK, USA, Spain and Canada and through distribution arrangements in a further 30 countries. (again, bla bla bla)

I would not be surprised if the sp by end of year (if the company is still quoted) as being a true 1p share, or lower).

Absolutely pathetic..........Albert Einstein was right, perhaps he knew about Deltex.

Came as a bit of a shock ( 46% fall =yes, - well almost), reading News on M-AM today, [ sp=1p ], =Oh deary, dear. Well I guess this could be the end; as the Market gives up all hope that any future money will go the same way. Quite apart from Greekman... I believe they should be concentrating on the UK market - you get that right and supply elsewhere is a bonus. It's true the NHS is penny-pinching and might not be a big spender.... so why not apply their "Development" to an area where there are willing customers? This may mean making something completely different . . . . but why not? Let the Sales of existing kit continue, with minimal spend.... while concentrating on the Next Big Thing. Clearly, the Sales for their Blood-pressure kit is insuficent to keep the Co. going. . . .
This I has been the fact for many years....only Execs fail to see it....and from the Co-Speak it remains, so.
/
Greekman - I kinda agree, but trying to tackle the NHS is a No-No from the start as they only deal with suppliers "on the list" ( the partnering which you suggested only spreads the profits). Whilst it may be true there are no "Private Healthcare" operative that would sustain this business...fact is even World-wide they are struggling for meaningful sales . . . and until then the daily costs represent enormous losses. They need to get into a product-line that is WANTED.... quite simple, but they are focussed only on selling probes . . . and that's difficult.

Hi Hangon,

re concentrating on the Uk market..............the problem was/is that they did concentrate on the UK market for years and they got almost nowhere, in fact if they had not spread their wings to foreign shores, they would have already gone bust.

Deltex's problem, especially with the UK market is they have always required a hammer to crack the home market, but instead of partnering (which many small medical equipment companies do) they stubbornly refused to consider such a move and were left trying to break into the market with a toffee hammer, where a sledgehammer was needed.

Held these until a few years ago managed to get out before the demise in the sp. Today some good news from the USA, good luck to long term sufferers like gm.

Hi George,

Sold out almost fully a few years ago but with quite a loss, only hold a token of 12573 shares now. All my posts since then (and many before) have been disparaging of the company and how it's been run, but I can't argue that this new contract is anything but good.
It all now depends on how Deltex follow this up. They should be shouting such contracts from the roof tops, but I fear that the current management will sit on this quietly and after an initial lift in the sp, it will do it's usual slide back down again.
I am not knocking anything in the RNS, but it is again my exasperation at what could be that breaks through every time.
So come on EP use this result as the selling tool it should be.

Please sir, can I have some more.

It looks like the begging bowl is out again.

I hope that the general meeting does not pass the resolution needed to enable the proposals to proceed, reason being that the Deltex boat is sinking too fast to save.

I appreciate my feeling have gone back to negative, very quickly, but i did not expect the begging bowl to be passed round so quickly within a few days of such a positive contract RNS.

It could also be that the offer of 1.25p could be higher than an open market price.

If I felt that this was the last time of begging for more good money after bad and that it would be used in a positive way, I might put a few more quid in, but EP will continue with the same broken down business model that he has been following for many years.

If they don't get the money, the company could be forced to either sell up or partner up, either scenario probably better for us long suffering shareholder than the current drip, drip of pain.

A plague on all your houses... is probably not right - but all Execs should be steering this business. The RNS I'm reading suggest they are raising £350k.... which seems very low to me..... Is this all they need... OR could it be they don't think punters will support any more? As a 1-product Co ( ie STILL !), this is a poor prospect, unless it's a product that folks are falling-over to buy...
Clearly the Market for probes is severely limited... so why not try ( yep, TRY ), something else....? I should have sold-out when Greekman did a couple of years (?), ago.... about 5p-ish rather than just over 1p now. The "Offer" is very close to MktPrice... so I'll be surprised the "Oversubscription" holds, but then I'm often wrong.

Tried to undue to underlining without success.

This is the first posting since January which shows how the interest in Deltex has died.

Results

Although throughout the year we have seen increased contracts, mainly in the USA the company is still not in profit, although we were told that profit was near a couple of years ago.

Operating loss is still evident but reduced by £0.4m to £2.0m (2016: £2.4m), so loss only reduced by 20%.

Group revenues £0.4m lower at £5.9m (2016: £6.3m) one has to wonder why, if they have more units and probes being used.

Even with gross margins improved to 75% (2016: 68%) the company is still loosing money.

With statements such as 'Revenues from US managed care contracts down 20% at £0.4m (2016: £0.5m) due to one lost account' '2017 was partially offset by a disappointing second half sales performance'. You have to wonder why they are loosing accounts if the system is as good and cost effective as the company states (I do believe it is as good as we have been told, so there's the mystery.

I have never seen a product that has so many positive trials and feedback fail so miserably to almost by results contradict the figures from those trials.

As many of us have stated, It can only be down to the companies business model.

Can anyone can give a better explanation. Also does anyone think that by year end, or even by the first quarter of 2019, the company will finally be in profit.

With the separate release re the TrueVueTM System, (which I read first finishing with a positive feeling that was reversed on reading the results) I still feel the SP will either open down, or if upward will as ever drift ever downward again.

Hard Choice.

Just seen the Investor day RNS.

Unfortunately on the same day I have been invited to the annual, watching different paints drying day. Will probably go to that event as likely to be more exciting.

That reads like something to watch.... +hope to attend the Deltex Bash. ...sorry "Event" so I guess I'm hoping the presentation will be more than the same-old.
At ~3p share-price, there is a lot of explaining to do - Perhaps they should stand for Foreign Secretaries . . . always a good laugh.
EDIT....18May2018 - I'll probably stay-away:- what are they going to tell me that isn't already known? The sp says it all( Today= 1p25- Oooer) ....might be a waste of a rail-fare -and- my time!

Just the Andy Mears mention is the only change I can see from the same rubbish put out for the previous several years. Optimising, maximise, addressable, exploring new ways, challenges etc.

I doubt anyone attending the AGM fell for this guff.

Deltex Medical's management, led by Andy Mears, will be working on optimising the Group's sales and marketing activities in order to maximise the Group's revenues and addressable markets. The team will also be exploring new ways of addressing the challenge that many hospitals currently only use haemodynamic monitoring for high risk patients.

Well at least it's not, same old story. It's actually worse!

Today's trading update is as expected, utterly pathetic.

The heading 'highlights' is an oxymoron as there are no highlights at all as in every section sales are lower than the corresponding period of 2017.

I can see no way out for this company, it's either sell out to or amalgamate with a bigger player, something that many of us wanted years ago.

How any management could allow such a slow death to occur to a once promising company that had what we were told was a game changer is beyond me.

The slow train Deltex has been grinding to a halt for years and as I am sad to say is fastly approaching the end of the line buffers, I am waiting for the next fund raising that will only fall-stall the inevitable.

I accept the above is all doom and gloom, but if anyone can see any light at the end of this long dark tunnel, please let me know.

Sorry to say, yr appraisal is spot-on.
+ The weaker pound is not their problem, since this would make exports more competitive...sad fact is, that no-one wants their product and they've wasted years trying to prove otherwise. I recall this was 20p awhile back, when the story seemed plausible and one expected product-expansion.
They need to visit some of their customers and find a niche-product they are wanting....but any begging-bowl will receive nowt from me.
If his Co was a car-maker, they'd be pushing diesel Austin-sevens....grief.
EDIT( 29Aug2018)-I see several RNS:- Dir-buying...well, I hope they know something I don't - For I see nowt ahead, with the incumbents, - or should that be incompetents? The present sp under 1p - "Oh how the mitee have fallen..."
EDIT(19Sept2018)-sp up today 29% but it's still below 2p ( Oh deary). Buy/Sells close to evens, IMHO.
EDIT(24Sept2018)- sp fell to 1p12 =clearly not going upwards much yet.

Hi Hangon,

As you rightly say, the weaker pound should mean that their products are cheaper, although they are using the argument that it does make their profits less as they are selling at a cheaper price (pound to dollar). Crafty how they only use the one side of the argument that suits them. Perhaps the board should throw their hands in and go into politics.

As to the sp, it was 30p early 2011 (ah those were the days of big dreams).

I still feel that if a big brother in the medical instrument field (Williams medical supplies the largest UK medical disposable equipment or say Johnson and Johnson) had got hold of their product it would have flew of the shelves years ago.

At least then Deltex could have had a decent piece of a very large pie, instead of having 100% of almost nothing

This pathetic lot couldn't sell discounted water to a Bedouin dying of thirst.

Well, blow me down with a feather...a glimmer of good news at last.

Well, if we assume the product works ( er, but does it really "save money"?), then Sales is the issue... I understand they have sales trainers (?) in the US where they expect the Market to be . . . but even this brings into Q. =if you are selling a product; to visit existing (and non-existing) Customers you need something that will excite them enough to see you.
+ This Co. has stuck itself in a low gear and hasn't really widened their offering - so unless you believe there will be either "Savings" -or a "better patient outcome" - why would you ask to see the Rep? - Similarly, unless there are real benefits, then why would the Purchasing Dept. be interested?
I suspect [DEMG] have let time stand-still and any excitement 20-years ago ( or now!), is unlikely to result in a meaningful Dividend.