Business
Half-year Report
Half-year Report.
About this update from Skinbiotherapeutics Plc
[{"type":"text","content":"\n\n \n\n \nSkinBioTherapeutics plc\n(\"SkinBioTherapeutics\" or \"the Group\")\nHalf Year results for the six months ended 31 December 2024\n26 March 2025, SkinBioTherapeutics plc (AIM: SBTX), a life science group focused on skin health, announces its half year results for the six months to 31 December 2024.\nOperational highlights\n· SkinBiotix: Croda studies completed which will support marketing claims for official launch on 8-10 April 2025 at the world's largest cosmetic ingredients exhibition, the in-cosmetics Global 2025 event in Amsterdam.\n· AxisBiotix:\no Sales continue to grow in UK and Europe, with strong customer retention; active dialogue with the USA's National Psoriasis Foundation for official endorsement. Discussions ongoing with two high street chains.\no Acne: continuing to work on best formulation for commercial launch; commercialisation preferably with a partner.\n· Acquisitions:\no Dermatonics fully integrated and performing as expected; Once Heel Balm being sold by Umesh Modi Group, starting with its home market in India.\no Bio-Tech Solutions (BTS) acquired for £1.25m in October 2024, adding manufacture and packaging of health, hygiene and personal care products, and a future development platform for topical products. Integration complete and performance in line with expectations.\n· R&D programmes: the Board is reviewing the whole R&D portfolio to establish which programmes to take forward for future commercialisation\n· Appointment of Dr Surinder 'Dass' Chahal, formerly a senior Croda VP, as Cosmetic Science / Customer Alliances Advisor to the Board\nFinancial highlights\n· Revenues up significantly to £1.58m (HY24: £0.11m) reflecting 20% growth in AxisBiotix sales and addition of Dermatonics revenues, £1.03m (HY24: £0.91m), and BTS sales of £0.42m (HY24: £0.39m) from 12 October 2024.\n· Operating loss reduced by 25% to £1.04m (HY24: loss £1.39m)\n· Cash and cash equivalents as at 31 December 2024 was £1.24m (at 30 June 24: £0.80m), strengthened by positive cashflows from the newly acquired businesses, plus by two placings in the period.\n· Financial transactions\no July 2024: Closure of £5.0m conver...