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OptiBiotix reports group net profit of £5.8 million
StockMarketWire.com
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Biotech company OptiBiotix has reported a net profit of in the 12 months of the financial year ending 31 December 2020, driven by growing sales and larger margins.
Group net profit for the year was approximately £5.8 million, subject to auditing.
OptiBiotix's Functional Fibres division delivered an EBITDA of £66,271, up from an EBITDA loss of £433,249 in 2019, with total sales of £5.5 million, an increase in sales of 151% over 2019.
ProBiotix, an entirely owned subsidiary, delivered an EBITDA of £75,768, up from an EBITDA loss of £474,205 in 2019, with total sales of £818,481.
Stephen O'Hara, CEO of OptiBiotix, commented: This has been another year of progress for OptiBiotix with its probiotic and functional fibre divisions achieving profitability by doubling sales, improving margins, and reducing costs, in a very challenging and uncertain global economic environment.
The Company is also pleased to report a significant appreciation in the value of its investment in SkinBioTherapeutics plc which, if confirmed in the final audited accounts, would mean OptiBiotix reporting a group net profit for the year to the end 31 December 2020 of approximately £5.8 million.
At 8:42am: (LON:OPTI) Optibiotix Health Plc share price was 0p at 54.5p
Story provided by StockMarketWire.com
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