16th Jul 2024 11:30
Tissue Regenix Group PLC - Leeds, England-based regenerative medical devices company - Says trading in the first half of 2024 was strong, as it expects revenue to have climbed 16% to USD16.4 million from USD14.1 million a year prior. "The BioRinse segment continued to deliver solid growth driven by increased efficiencies, while the commercial reorganisation of the dCELL segment continued to show benefits, demonstrating robust growth within the period," Tissue Regenix says. It will report its full half-year results on September 10.
Tissue Regenix expects growth in adjusted earnings before interest, tax, depreciation and amortisation for the first half of 2024, compared to adjusted Ebitda of USD400,000 in the first half of 2023, swung from a loss of USD500,000 a year prior. Chief Executive Officer Daniel Lee says: "It is particularly pleasing to announce another period of progress, not only financially but also operationally. Our 4S strategy continues to deliver benefits, and our tactical growth pillars should drive further growth and deliver the results that are expected by our stakeholders. We are firmly committed and confident in keeping Tissue Regenix on its positive trajectory, which began in 2021."
Current stock price: 71.00 pence per share, down 4.1% on Tuesday morning in London
12-month change: up 28%
By Tom Budszus, Alliance News slot editor
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