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.
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For more information, please contact:
SkinBioTherapeutics plc
Stuart J . Ashman, CEO
Manprit Randhawa, CFO
Tel: +44 (0) 191 495 7325
