Business
Report and Accounts, and Provision Update
Report and Accounts, and Provision Update.
About this update from Skinbiotherapeutics Plc
[{"type":"text","content":"\n \n \n \n SkinBioTherapeutics plc\n \n \n \n (\"SkinBioTherapeutics\" or the \"Company\")\n \n \n \n \n \n \n \n \n Annual Report and Accounts\n \n \n \n \n Amendment to provisions and update to Operating Loss\n \n \n \n \n \n \n \n 23 December 2022 - \n \n SkinBioTherapeutics plc (AIM: SBTX or the \"Company\"), a life science company focused on skin health, announces that a copy of its Annual Report and Financial Statements for the year ended 30 June 2022, is now available from the Company's website\n \n https://www.skinbiotherapeutics.com/investor-relations/financial-reports\n \n . Hard copies of the 2022 Annual Report and Financial Statements have also been posted to shareholders.\n \n \n During the finalisation of the FY 2022 Annual Report & Accounts, the Group became aware of an adjustment to inventories which impacts the Group's financial results for the year ending 30th June 2022. A provision of £266k has been made to restate inventories to net realisable value, and as a result the operating loss has increased from £2,716k (as per the unaudited full year results of 15 December 2022) to £2,982k. This has no impact on the Group's year end net cash position of £1.8 million, as announced.\n \n \n -Ends-\n \n \n For more information, please contact:\n \n \n \n \n \n \n \n SkinBioTherapeutics plc\n \n Stuart J\n . Ashman, CEO\nManprit Randhawa, CFO\n \n \n \n \n \n Tel: +44 (0) 191 495 7325\n \n \n \n \n \n \n \n \n Cenkos Securities Plc\n \n (Nominated Adviser & Broker)\nGiles Balleny, Max Gould (Corporate Finance)\nDale Bellis, Tamar Cranford-Smith (Sales)\n \n \n \n \n \n Tel: +44 (0) 20 7397 8900\n \n \n \n \n \n \n \n \n Instinctif Partners (financial press)\n \n Melanie Toyne-Sewell / Tim Field \n \n \n \n \n \n Tel: +44 (0) 20 7457 2020\n \n SkinBioTherapeutics @instinctif.com\n \n \n \n \n \n \n \n REX Retail\n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Notes to Editors\n \n \n \n \n About SkinBioTherapeutics plc\n \n \n \n SkinBioTherapeutics is a life science company focused on skin health. The Company's proprietary platform technology, SkinBiotix®, is based upon discoveries made by Professor Catherine O'Neill and Professor Andrew McBain.\n \n \n The Company is targeting a number of skin healthcare sectors, ...