SkinBioTherapeutics PLC - Newcastle, England-based life science company focused on skin health - Provides a trading update for the recently acquired Dermatonics Ltd, a Cambridgeshire-based manufacturer of skincare products. In January, SkinBio completed its acquisition of Dermatonics for an initial payment of GBP1.7 million, alongside a GBP1.3 million earn-out over three years. Dermatonics's revenue was GBP1.9 million for the year ended January 31, up 2.2% from GBP1.8 million a year prior. Earnings before interest, tax, depreciation and amortisation were GBP422,000 for the 12 months, up 77% from GBP230,000 adjusted Ebitda last year. Adjustments were a GBP150,000 stock write-off and GBP123,000 bad debt in financial 2023. As of January 31, Dermatonics had a cash balance of GBP149,000, down from GBP213,000.
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