News

Zi Medical expects 'significant' turnover

04 September 2006 13:13:00

Medical devices firm Zi Medical released its interim results today and said it was set to deliver its first 'significant' revenues towards the end of 2006.

Turnover for the six months to June rose to £58,000 compared with £23,000 last year. Pre-tax losses increased to £1.3m from £530,000 previously but the group said the 2005 figure did not include the consolidation of Oxford Newtech.

The group added that costs increased due to development activities across all areas.

"'Zi Medical has made significant progress with its product pipeline. With two products now in commercialisation, we expect to see our first revenues in late 2006," it said.

"New financing and the ability to raise new funds have put Zi Medical in a position where it can become a major player in today's healthcare market," it added.

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