Cellular Goods PLC - London-based cannabinoid consumer products company - Posts revenue of GBP31,022 for the six months ended on February 28, up from GBP13,058 a year earlier. Pretax loss narrows to GBP1.8 million from GBP2.4 million, as administrative expenses also reduce to GBP1.8 million from GBP2.4 million. Says it has expanded its product range with the introduction of three new rejuvenating skincare products in September last year, followed by the launch of a gift set collection for the festive season. Looking ahead, says the current trading remains encouraging and sales in March set a new record, as it remains focused on achieving further progress in 2023.
Chair Darcy Taylor says: "Despite industry headwinds, we have benefitted from a positive sales momentum in the first half that has continued into the second half. In combination with a significant rationalisation of our cost base and cash burn, we have defined a path to drive our brand business forward."
Current stock price: 0.60 pence each, down 4.2% on Friday morning in London
12-month change: down 76%
By Xindi Wei, Alliance News reporter
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