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MicroSalt PLC on Monday said its loss widened during 2024, driven by increased costs following its initial public offering in February that year. The London-based provider of low-sodium salt products said its pretax loss in 2024 was $6.1 million, widening from $3.5 million in 2023. This was despite revenue growing 31% to $750,000 from $574,000. Administrative expenses increased 21% to $4.0 million from $3.3 million, while cost of sales rose 66% to $1.2 million from $724,000. The firm also recorded one-off initial public offering costs of $1.4 million during the year. MicroSalt added that the increased expenses in 2024 also involved a one-off research and development cost related to the launch of MicroSalt Premium in January 2025, as well as preparation for the launch of its first two major food manufacturing customers within its business-to-business solution. ‘This has been a transformational year for MicroSalt. Following our successful IPO, and with continued evidence of the timeliness and essential nature of MicroSalt’s products, we are now a recognised and preferred choice for product reformulation globally,’ said Chief Executive Officer Rick Guiney. ‘MicroSalt’s progress is reflected in the material improvement in revenue generation during Q4 2024 that continued into the early months of 2025, driven by recurring orders from one of the world’s largest snack food businesses. The repeat nature of orders and the work undertaken to date to reformulate some of the world’s leading snack food brands provide us with clear revenue visibility and the ability to reaffirm 2025 revenue guidance of at least $2.5 million.’ Shares in MicroSalt were up 5.7% at 65.00 pence each in London on Monday afternoon. The firm expects significant improvement to its gross margins in 2025, as its sales mix has become ‘much more reliant’ on bulk sales, at the expense of the lower margin consumer sales of its business-to-consumer products, which made up most of its 2024 sales mix. CEO Guiney continued: ‘We are very excited about the growth of our MicroSalt products and its ever-widening acceptance within the food manufacturing community. Our growth story is now evidenced by growing sales volume, the number of topical applications, and countries served. Continued regulatory support for lower sodium food products acts as a catalyst to our growth both in the US and across the globe in short and long term.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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