Business
Interim Results - Ended 30 June 2022
Interim Results - Ended 30 June 2022.
About this update from Niox Group Plc
[{"type":"text","content":"\n \n \n NIOX GROUP PLC\n \n \n (formerly Circassia Group plc)\n \n \n (\"NIOX\" \n or the \"Company\"\n \n \n \n and, together with its subsidiaries, the Group\n \")\n \n \n \n INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2022\n \n \n \n \n \n \n \n Oxford, UK - 14 September 2022:\n \n NIOX Group plc (LSE: NIOX), a company engaged in the design, development, and commercialisation of medical devices for asthma diagnosis and management, today announces its unaudited interim results for the six months ended 30 June 2022 (\"H1 2022\").\n \n \n \n \n \n \n Financial highlights\n \n \n \n ·\n Underlying NIOX® revenue growth of 11% t\n o £15.5 million (excluding the effect of a one-off revenue item of £0.6 million recognised in H1 2021)\n \n \n ·\n The Group generated an adjusted EBITDA profit of £3.2 million (H1 2021: £0.3 million loss), reflecting improved margins and a substantial reduction in the cost base\n \n \n ·\n Strong balance sheet with no debt and cash of £13.8 million as of 30 June 2022 (30 June 2021: £11.3 million, 31 December 2021: £12.6 million)\n \n \n \n \n \n \n Financial progress\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n H1 2022\n \n \n \n \n \n \n \n \n \n £m\n \n \n \n \n \n H1 2021\n \n \n \n \n \n £m\n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n \n 15.5\n \n \n \n \n \n 14.6\n \n \n \n \n \n \n \n Gross margin\n \n \n \n \n \n \n 71%\n \n \n \n \n \n 68%\n \n \n \n \n \n \n \n Total expenditure1\n \n \n \n \n \n \n (7.8)\n \n \n \n \n \n (10.2)\n \n \n \n \n \n \n \n Adjusted EBITDA2\n \n \n \n \n \n \n 3.2\n \n \n \n \n \n (0.3)\n \n \n \n \n \n \n \n Operating profit / (loss)\n \n \n \n \n \n \n 0.6\n \n \n \n \n \n (2.6)\n \n \n \n \n \n \n \n Beyond Air settlement consideration\n \n \n \n \n \n \n 8.1\n \n \n \n \n \n -\n \n \n \n \n \n \n \n Profit / (loss) before tax from continuing operations\n \n \n \n \n \n \n 8.9\n \n \n \n \n \n (2.0)\n \n \n \n \n \n \n \n Profit for the financial period from discontinued operations\n \n \n \n \n \n \n 0.3\n \n \n \n \n \n 1.1\n \n \n \n \n \n \n \n Profit / (loss) for the financial period\n \n \n \n \n \n \n 9.2\n \n \n \n \n \n (0.9)\n \n \n \n \n \n \n \n Cash3 at period end\n \n \n \n \n \n \n 13.8\n \n \n \n \n \n 11.3\n \n \n \n \n \n \n \n 1\n \n Excludes depreciation, amortisation, impairment and...