Tissue Regenix’s trading update underlined this year’s trading with strong revenue growth of over 20% in the year, said broker Cavendish.
Group revenues are expected to be $29.5m, ahead of the broker’s $29.0m forecast, with H2/23 revenues delivering the sixth consecutive period of half-on-half double-digit revenue growth for the regenerative medtech group.
“Significantly, Tissue Regenix generated an adjusted EBITDA profit for the year, again expected to be ahead of our forecast. Cash at year-end was $4.5m”.
“Looking forward, the company has seen the positive trading conditions continue into 2024 and expects these to be maintained through the year, supporting the broker’s revenue growth expectations.
Cavendish has a target price of 120p.