18th Sep 2020 14:23
Integumen PLC - York-based skin product test services company - Revenue more than doubles to GBP1.0 million from GBP347,000. Chief Executive Gerard Brandon notes revenue rise with the company continuing to "grow and evolve through collaboration and acquisition". Pretax loss narrows slightly to GBP955,000 from GBP975,000 the year before, this as cost of sales nearly quadruples to GBP393,000 from GBP100,000 and administrative costs climb to GBP1.5 million from GBP1.2 million. In August, agreed terms for acquisition of Modern Water PLC in an all-share deal that values the London-based wastewater firm at around GBP21.3 million. Will shortly change company name to DeepVerge PLC.
After "positive first half", Chair Ross Andrews said, third quarter revenue is expected to exceed GBP1 million with the company feeling "comfortable" in guiding for revenue of GBP4 million for 2020 as a whole.
Current stock price: 35.00 pence
Year-to-date change: up more than 100% from 16.65p December 31
By Anna Farley; [email protected]
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