20th Sep 2022 14:40
Belluscura PLC - London-based medical device developer - In the six months ended June 30, reports a widened pretax loss of USD4.6 million. The previous year, the firm posted a loss of USD2.4 million. Revenue in the half totals USD561,745, up from nil the previous year. Belluscura says it strengthened its manufacturing capacity, secured its supply chain and reduced its production costs during the half. Looking forward, focus is on the completion of the development and testing of its next product, DISCOV-R, a portable oxygen concentrator. Chair Adam Reynolds adds the firm expects "substantial growth" over the coming years.
Separately, Belluscura signs a distribution agreement with an unnamed durable medical equipment provider and distributor in the US. Agreement is for the distribution of its X-PLOR portable oxygen concentrator. Chief Executive Robert Rauker says the agreement "significantly" increases the firm's coverage across the US.
Current stock price: 67.19 pence, down 4.0% in London on Tuesday afternoon
12-month change: down 21%
By Heather Rydings; [email protected]
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