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Regenerative medical devices company Tissue Regenix posted a first-half loss but said it expected to post a better performance in the second half owing to growing demand for its products.
Pre-tax losses for the six months through June amounted to £4.4m, compared to losses of £4.8m on-year. Revenue rose 9% to £6.1m.
'We have strong global demand for our products, which allowed us to deliver continued revenue growth, demonstrated by DermaPure, which increased sales by 33% in the first half,' executive chairman John Samuel said.
'We remain focused on short and medium term initiatives to increase capacity and alleviate supply constraints.'
'We anticipated that the year would be significantly weighted towards the second half, as announced on the 4 June 2019.'
'We continue to expect that this will be the case, and, against a background where we see the ever-growing demand for our products as the business looks to increase its manufacturing capabilities, the ability to bring this on stream during the second half of the year will be key in determining the year end outcome.'
At 3:02pm: (LON:TRX) Tissue Regenix Group PLC share price was -0.2p at 3.45p