Business
Final results
Final results.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n\nRUA Life Sciences plc\n(\"RUA Life Sciences\", the \"Company\" or the \"Group\")\n \nFinal results for the year ended 31 March 2023\n \nRUA Life Sciences, the holding company of a group of medical device businesses focused on the exploitation of the world's leading long-term implantable biostable polymer (Elast-EonTM), announces its audited final results for the year ended 31 March 2023.\n Highlights:\n \n· Revenue growth of 34% to £2,179,000 (2022: £1,625,000)\n· Recruitment of high-calibre people with 26% headcount increase\n· Despite continued investment, loss after tax reduced 3% to £2,003,000 (2022:£2,067,000)\n· RUA Biomaterials enjoyed 14% revenue growth to £554,000 (2022: £487,000)\n· RUA Contract Manufacture strong year with 43% revenue growth and 78% growth in operating profit to £794,000 (2022: £447,000)\n· Regulatory pathway for RUA Vascular agreed with FDA and global distribution agreement concluded\n· Structural Heart achieved outstanding results on testing of novel heart valve leaflet material.\n· Year-end cash £1,484,000 (2022: £2,963,000)\n \n \n \nBill Brown, Chairman of RUA Life Sciences, commented: \"RUA has a portfolio of four businesses, all of which have made good progress during the period. The mature businesses of Biomaterials and Contract Manufacture are growing revenue and generating attractive net margins and the development business segments of Vascular and Structural Heart have made good regulatory and technological progress respectively on relatively low levels of investment\".\n \n \n \nFor further information contact:\n \nRUA Life Sciences\nBill Brown, Chairman &nbs...