Momentum builds at life sciences firm as it anticipates further growth
ProBiotix Health plc (AQUIS: PBX), a life sciences business developing probiotics to support cardiometabolic health, says it is on target to meet its strategic objectives.
Releasing a trading update for the six months ending 30 June 2024, the Wakefield-based firm reports unaudited turnover for the period of £1.005m – 82% above that achieved for the same period last year.
Net unaudited loss of £275,000 for the six months to 30 June 2024 is a decrease of 46% on the same period last year.
Adam Reynolds, non-executive chairman, said: “We have had a very strong first six months of the year, and momentum is continuing to grow as we move into H2.
“If we continue on this upward trajectory as planned, we hope we will start to see the fruits of our labour reflected in our valuation. We remain thankful to our shareholders for their support.”
ProBiotix Health confirmed that it is in the last phase of closing a long-term strategic partnership agreement with a North American-based contract manufacturer of bulk strains and finished formats.
It says this agreement will play a “pivotal” part in its strategy and will serve as a leverage to improve product costs as well as providing short-term commercial access to Canada.
Also during the period, ProBiotix Health participated in two key scientific and commercial events, Probiota and Vita-foods.
It says these events confirmed the strength of its cardio-metabolic value proposition through several new commercial leads and projects being initiated.
The company notes its directors are confident that positive growth will continue throughout the second half of the year, which traditionally has performed better than the first six months.
The business expects to issue its interim results for the six months ended 30 June 2024 during the second half of August 2024.
