Tissue Regenix posts loss as costs offset higher revenue

Writer, Stock Market Wire
Monday, September 3, 2018 - 09:21

Regenerative medical devices company Tissue Regenix Group posted a first-half loss, as higher revenue was offset by costs.

Pre-tax losses for the six months through June amounted to £4.3m, narrowing from £5.4m of losses on-year.

Sales increased by 61% on a pro-forma basis to £5.6m, while gross margins improved by 12.1 percentage points to 56%.

Costs related to financing, depreciation and share-based payments to executives all rose.

'We have delivered a strong first half performance,' chief executive Steve Couldwell said.

'I am pleased with the growing momentum across our business and we increased market penetration in our key clinical areas as a result of the good progress against our refined strategy.'

At 9:21am: (LON:TRX) Tissue Regenix Group PLC share price was +0.63p at 9.38p


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