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Integumen revenues jump 540% in half-year, losses slashed

The developer of Labskin technology also reported that it had already contracted £134,785 in recurring revenues for its second half

Integumen - Integumen revenues jump 540% in half-year, losses slashed

Integumen PLC (LON:SKIN) has reported a sixfold jump in revenues for the first half of the year alongside a reduction in losses.

For the six months ended 30 June, the developer of Labskin technology, which allows a skin substitute to be grown from human samples for testing, reported that revenues from continuing operations had increased 540% to £346,697, while EBITDA losses fell 32% to £370,102.

READ: Integumen study supports cost-saving potential of Labskin technology

Looking ahead, Integumen said the current level of activity in its pipeline was “significantly higher” than had been experienced in the past, while demand for its products and services had continued to increase.

The group also said it had already contracted £134,785 in recurring revenues for its second half, as well as securing 4 blue-chip client agreement for its testing services on soap and cosmetic brands.

“The board is satisfied that it is meeting its objective of increasing the average revenue per client as it evolves into a multiple revenue stream product and services company for skin related diseases, treatments and therapies”, said Ross Andrews, Integumen’s chairman.

In mid-morning trading on Wednesday, Integumen shares were 8.9% lower at 1.8p.

Quick facts: Integumen

Price: 1.525 GBX

AIM:SKIN
Market: AIM
Market Cap: £14.96 m
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