Member Info for shychap

She'll do fine. Pleased to get someone decent so quickly. Presumably Hunt's departure can now be announced soon.

She'll do fine. Pleased to get someone decent so quickly. Presumably Hunt's departure can be announced soon.

Does Cordel own any IP assets or could a bigger player come along and copy what they are doing?

I found some patents registered to Maestrano Pty for cloud-based business tools - how are they related to Cordel? TIA.

Nonsense. Your 08:09 surmised. Your 07:39 clearly indicated that the BBC - not you, nor AI - had reported scientific backing for combining collagen and Zenakine. I had read the BBC article an hour earlier but your post sent me back there to waste my time looking for the reference to Zenakine which I thought I must have missed.

you're being disingenuous. your 07:39 knowingly and falsely implied that the bbc had reported scientific backing for a ****tail of collagen and zenakine.

Netcurtains, if your 07:39 post should be removed, it may be because I have reported it for being intentionally deceptive/misleading.

Wondering if anyone is getting a response from IR@…?

Financial Highlights

Group revenue increased by 16% to £65.9m (FY24: £56.7m), in line with management consensus

An improvement in gross margin to 15.6% (FY24: 13.5%)

A 21% reduction in central costs (net of income from operating leases and excluding costs associated with the acquisition of Coleman)

Order book grew significantly by 61.6% to £83.4m (FY24: £51.6m)

Group operating loss before exceptional items reduced to £1.1m (FY24: £1.9m)

Strong balance sheet with cash and cash equivalents (representing cash at bank and deposits with a maturity over three months) of £10.9m (FY24: £12.8m)

Net assets remain robust at £27.3m (FY24: £30.0m)

A final dividend of 2.0 pence per share is being recommended by the Board, delivering the total annual dividend to 3.0 pence. If approved, the dividend will be paid on 24 April 2026 to shareholders whose names appear on the register at the close of business on 27 March 2026 and the ex-dividend date is 26 March 2026.

Operational Highlights

Tamdown awarded £88.8m of new work (FY25 £55.5m) from a broadly flat market

Coleman successfully integrated into the enlarged Group and enters the Asset Management Period 8 ("AMP8") from a position of strength, with activity levels expected to increase progressively through FY26.

Outlook

Tamdown started the year with solid foundation of £83.4m order book and has secured £18m of contracts post period end. It continues to be positioned to benefit from an anticipated upturn in the housebuilding sector.

Coleman expects to see increased levels of activity in the water sector as the AMP8 investment programme gets underway, with the programme running through to 2030.

The year is progressing in line with management expectations, seasonally weighted to the second half. The strong order book and improving market sentiment provide positive indications for the future.

I think there is zero chance that Croda – an old-school British company in the FTSE100 which devotes most of its annual report to ethics and corporate governance – has not complied with the terms of the agreement. There is also zero chance that the agreement doesn't include a way for SBTX to validate Croda's sales of Zenakine.

That's Eldric's wife.

"TR1 by post, clever way of doing it"

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Hobson's choice: he has never used a computer or smart phone or email.

"MD didn't inform the market until he was at 9%"

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True, Toyin but he did inform SBTX and expected them to inform the market.

MD did not know the CEO. He is not an activist investor. He tried to dissuade me from activism. He doesn't want to be an insider. He's a equine bloodstock breeder. Many years ago he was a market maker.

I believe you, AquaeSulis01. But I can't believe that an experienced high street retailer is losing sales because stock is gathering dust in their warehouse.

Whose, I'm sure that Croda already have their own fully certified manufacturing facilities so doubt they would be interested in our little subsidiaries. If they are happy with Zenakine sales, they might well want to buy Skinbiotix though - subject to Skins shareholders approval.

AquaeSulis01, surely anyone trying to order online from SD would be given their warehouse stock position? If that is showing nil then a and c must be more likely?

Thanks AquaeSulis01. I would be amazed if £2m had been invested in SD inventory for 180 stores but time will tell. And we presumably have received some revenue from SD after four months. And if a number of SD stores are reporting no stock would that be because a) six months of inventory have sold out; b) SD are failing to stock shelves from their warehouse; or c) inventory is stuck at Skin's end?

Bazzao, Hunt rang MD on Friday, which was their first-ever engagement.

I haven't believed a word he has said since June but the latest RNS confirms the Dermatonics and BTS FY25 revenues and indicates that he has overstated the FY26 forecast. The Croda and SD agreements are obviously real albeit we still wait to learn what Croda revenues are due and when.

He may have misled the June fundraise subscribers if a trading update was called for before then.

And it looks like he misled shareholders about the purpose of the £4m raised since it was clearly needed for other things apart from the SD launch. It was always far too big a sum to invest in SD and that would also explain why he didn't give shareholders any guidance on the ROI/impact on future sales since that guidance would have shown that an investment of £4m in the SD launch (even if it included new plant at the factory) was unjustifiable.

Ah so, thanks AquaeSulis01. I'm no accountant, obviously.