28th Jun 2022 12:19
OptiBiotix Health PLC - York-based probiotics developer tackling cardiovascular diseases and lifestyle conditions - Reports higher profit and revenue in 2021 as probiotic business sells more. Pretax profit rises to GBP6.2 million from GBP5.7 million in 2020. Revenue from contracts with customers grows 45% to GBP2.2 million from GBP1.5 million.
Probiotic business increased sales by 34% to GBP1.1 million from GBP800,000 in 2020, OptiBiotix explains. Cites investment increase in Newcastle-based skin health-focused life sciences company SkinBioTherapeutics PLC to GBP13.7 million in 2021 from GBP8.9 million in 2020 as as reason for higher profit in 2021.
Looking ahead, says: "We have invested substantially in building a stronger professional commercial management team that is well qualified and equipped to lead the business in this next phase of its development, as we look to launch more new products and focus increasingly on selling finished products direct to consumers, while continuing to develop sales of our first-generation ingredients to businesses and working to realise the commercial potential of our development pipeline."
Current stock price: 20.62 pence, up 0.6% on Tuesday
12-month change: down 61%
By Tom Budszus; [email protected]
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