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Trading statements

Toumaz growth

03 August 2015 07:25

Toumaz said overall, given the strong performance by Digital Audio, it remains on course to continue to grow the business in H2. Revenues for the six months to June 30 were up 30% to £14.0m, from £10.8m.

It is delighted with the growth of its Digital Audio business, and that the company's co-development agreement with Google will be an important factor in further developing its position in connected audio.

The Digital Audio division's revenues rose 34% to £13.8m. Growth has been driven by the international expansion of digital radio and the rapid emergence of the connected audio market.

Toumaz is well-positioned in both sectors and the recent co-development agreement with Google is a strong endorsement of the Group's forthcoming next generation connected audio solution.

In Healthcare, the commercial delivery of SensiumVitals remains slow with revenues of £0.2m; but based on recent trials the Board remains confident that the fundamental economic and clinical value of the system will be demonstrated.

"We are trialling SensiumVitals in a number of hospitals, including the Queen Elizabeth Hospital Birmingham and St James's Hospital, Leeds. However, these complex systems for the healthcare environment need considerable amounts of data and trialling, which have delayed our commercial roll out," the company said.

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