Gulf starts at Sheikh Adi-2 25/05/2012
Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
Inditherm wins NICE support
Heating solutions innovator Inditherm (IDM) has received a boost from NICE (National Institute for Health and Clinical Excellence) as the body has cited the benefits to the NHS, of using its patient warming mattress.
The Alpha mattress has been in production for over 11 years, and maintains the patients core body temperature at over 36 degrees centigrade. According to NICE the Inditherm product should be considered for patients that are undergoing operations that carry a risk of inadvertent hypothermia. Moreover, the annual cost saving is estimated to be £9,800 per operating theatre.
Inadvertent hypothermia is a common but preventable complication during surgery which can lead to blood loss, longer recovery times and increased heart problems. If the NHS were to replace its more traditional method of a hot hair disposable blanket with the Inditherm solution the 3,030 operating theatres in teh UK could save upwards of £15 million.
Rotherham based Inditherm joined AIM in 2001 after a successful fundraising that secured £3.3 million at 97p - however its progress since has been slower than hoped. That said, the decision to broaden its horizons beyond the UK by signing up over 50 distributors worldwide has seen it sell products to: the US, Australia and more recently the Middle East.
Speaking to Growth Company Investor chief executive Nick Bettles said 'the Alpha product is significantly better for the environment and has a number of benefits - we welcome the NICE endorsement.' Last year Inditherm hiked sales 47 per cent to £1.3 million as gross profits edged up 58 per cent to £805,000 - pre-tax losses fell to £409,000 (2010: £723,000).
Interim results are due on 29 September and should confirm that the medical business remains its key focus, with more resource being pushed towards winning new business. At 3.25p, the rarely traded shares have speculative appeal, particulary given a cash balance of £1.7 million - similar to its current market value.
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