Business
Interim results
Interim results.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n \n \n 12 December 2022\n \n \n RUA Life Sciences plc\n \n \n (\"RUA\", the \"Company\" or the \"Group\")\n \n \n Interim Results\n \n \n RUA 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-Eon\n \n \n TM\n \n \n )\n , today announces its unaudited interim results for the six months ended 30 September 2022.\n \n \n Highlights:\n \n \n ·\n 56% increase in revenues to 1,104,000 (H1 FY2022: 708,000)\n \n \n ·\n Gross profit £875,000 - margin 79% up from H1 FY2022 75%\n \n \n ·\n 15% reduction in loss to £1,143,000 (H1 FY2022: £1,311,000)\n \n \n ·\n Strong cash position at 2.5 million (30 September 2021: 4.8 million, 31 March 2022: 3 million)\n \n \n ·\n Investment in development projects increased 7% to £908,000 (H1 FY2022: £849,000)\n \n \n ·\n Progress made in regulatory pathway for Vascular business segment\n \n \n ·\n Increased commercial opportunities within Contract Manufacturing business segment\n \n \n Bill Brown, Chairman of RUA Life Sciences, commented:\n \n \n \"The period has seen good progress made across the four business segments. Biomaterials has continued its steady growth, Contract Manufacturing has outperformed our expectations by delivering increases in sales of 66% at improved margins. The Vascular business has made good progress with its regulatory objectives whilst building on the foundations for a viable commercial business. Structural Heart has identified a solution to the key risks associated with polymeric heart valve leaflets and further strengthened the Group's IP in this area. All business segments are primed for further growth in value over the next few years.\"\n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.\n \n \n \n For further information contact:\n \n \n \n \n \n RUA Life Sciences\n \n \n Bill Brown, Chairman\n ...