Annual Report and Accounts
Amendment to provisions and update to Operating Loss
23 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. Hard copies of the 2022 Annual Report and Financial Statements have also been posted to shareholders.
During 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.
For more information, please contact:
Stuart J . Ashman, CEO
Manprit Randhawa, CFO
Tel: +44 (0) 191 495 7325
If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.
Terms of Website Use
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned