Interim results to 31 December 2020 were in line with its January trading updates with revenues down 19% to £4.1m. Despite a £0.3m reduction in operating expenses, this was not enough to offset lower sales and product mix changes, resulting in an adjusted pre-tax loss of £1.0m (vs. £0.3m loss)) and period-end cash of £0.2m. The changes made by the new CEO, which provide for an improved organisational and financial focus to optimise the company’s digital e-commerce activities, are expected to pos ....
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InnovaDerma - Interim results
- Published:
31 Mar 2021 -
Author:
Mark Brewer | Cavendish Research -
Pages:
12
Interim results to 31 December 2020 were in line with its January trading updates with revenues down 19% to £4.1m. Despite a £0.3m reduction in operating expenses, this was not enough to offset lower sales and product mix changes, resulting in an adjusted pre-tax loss of £1.0m (vs. £0.3m loss)) and period-end cash of £0.2m. The changes made by the new CEO, which provide for an improved organisational and financial focus to optimise the company’s digital e-commerce activities, are expected to pos ....