From previous RNS4 Jan 2016 15:55
FINANCIAL HIGHLIGHTS
· Group revenue increased 5.9% to $9.1m (H1 2014:$8.6m)
- Supermarket Retail revenue increased 9.3% to $8.4m (H1 2014: $7.7m) driven by higher sales of consumable products
- As expected, Health Sciences revenue decreased to $0.3m (H1 2014: $0.9m) following the termination of the Onset Dermatologics partnership agreement, as previously announced, in December 2014
- Other revenue increased to $0.4m (H1 2014: nil) and represents fees paid by third parties to gain letters of access to the Active Chlorine Biocidal Products Regulation (BPR) dossier
· Gross margin decreased to 24.5% (H1 2014: 28.2%) due to increased service costs within Supermarket Retail
- Company remains focused on improving margins in the mid- term and is investing in improving the reliability of its generators and updating early versions of its concentrate delivery system
· Operating expenses increased to $6.9m (H1 2014: $6.1m) due primarily to investment in research, development and regulatory activities in Health Sciences and Supermarket Retail
· EBITDA* loss $3.8m (H1 2014 loss: $2.2m)
· Cash and cash equivalents, net of debt ($0.2m), were $16.3m as at 30 June 2015 (as at 31 December 2014: $20.7m, net of debt)
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Current mcap sits at £10m - cash and cash equivalants at USD 16m + HY1 sales of USD $9.1m