RUA Life Sciences PLC - holding company of multiple medical device businesses - Pretax loss narrows to just £10,000 in the financial year to March 31 from £2.0 million a year prior. Revenue jumps to £4.1 million from £2.2 million although administrative expenses rise to £4.2 million from £3.8 million. All revenue-generating business units contribute to the growth, with Biomaterials growing 18% from £496,000 to £587,000, and the Medical Device and Components business more than doubling to £3.5 million from £1.7 million. Gross margin fell from 81% to 77% partly due to the Biomaterials business, on which gross margins remain at over 94%, being diluted by the faster-growing contract manufacturing business. ‘Compared to other industries, growing a medical device business can be frustratingly slow due to the necessary regulatory requirements; however, the past 12 months have been exceptional, with a doubling in the scale of the business. The new business opportunities being pursued are equally exciting and, if successful, will add further to the growing high-quality revenues,’ says Chair Geoff Berg.
Current stock price: 12.94 pence, closed down 1.4% in London on Wednesday
12-month changed: up 18%
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