{"id":104838,"title":"SkinBioTherapeutics (AIM:SBTX) Report and Accounts, and Provision Update","publisher":"Share Talk","author":"sharetalk","published":"2022-12-23T09:15:14+00:00","modified":"2022-12-23T09:15:14+00:00","canonical_url":"https://www.share-talk.com/skinbiotherapeutics-aimsbtx-report-and-accounts-and-provision-update/","markdown_url":"https://www.share-talk.com/skinbiotherapeutics-aimsbtx-report-and-accounts-and-provision-update.md","json_url":"https://www.share-talk.com/skinbiotherapeutics-aimsbtx-report-and-accounts-and-provision-update.json","category":"Healthcare","categories":["Healthcare","Pharmaceutical"],"tags":["Manprit Randhawa","SBTX","skin health","SkinBioTherapeutics","Stuart J . Ashman"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"**Annual Report and Accounts**\n\n**Amendment to provisions and update to Operating Loss**\n\n23 December 2022 – SkinBioTherapeutics plc (AIM: SBTX or the “Company”), a life science company focused on skin health, announces that a copy of its Annual Report and Financial Statements for the year ended 30 June 2022, is now available from the Company’s website [https://www.skinbiotherapeutics.com/investor-relations/financial-reports](https://www.skinbiotherapeutics.com/investor-relations/financial-reports). Hard copies of the 2022 Annual Report and Financial Statements have also been posted to shareholders.\n\nDuring the finalisation of the FY 2022 Annual Report & Accounts, the Group became aware of an adjustment to inventories which impacts the Group’s financial results for the year ending 30th June 2022. A provision of £266k has been made to restate inventories to net realisable value, and as a result the operating loss has increased from £2,716k (as per the unaudited full year results of 15 December 2022) to £2,982k. This has no impact on the Group’s year end net cash position of £1.8 million, as announced.\n\n-Ends-\n\n**For more information, please contact:**\n\nSkinBioTherapeutics plc\n\nStuart J . Ashman, CEO\n\nManprit Randhawa, CFO\n\nTel: +44 (0) 191 495 7325"}