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Cellular Goods PLC - London-based cannabinoid consumer products company - Posts revenue of £31,022 for the six months ended on February 28, up from £13,058 a year earlier. Pretax loss narrows to £1.8 million from £2.4 million, as administrative expenses also reduce to £1.8 million from £2.4 million. Says it has expanded its product range with the introduction of three new rejuvenating skincare products in September last year, followed by the launch of a gift set collection for the festive season. Looking ahead, says the current trading remains encouraging and sales in March set a new record, as it remains focused on achieving further progress in 2023.
Chair Darcy Taylor says: ‘Despite industry headwinds, we have benefitted from a positive sales momentum in the first half that has continued into the second half. In combination with a significant rationalisation of our cost base and cash burn, we have defined a path to drive our brand business forward.’
Current stock price: 0.60 pence each, down 4.2% on Friday morning in London
12-month change: down 76%
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