Proactive Investors - Run By Investors For Investors

Integumen subsidiary growth boosts earnings in 2018 following restructuring

In a trading update, the skincare group said revenues for 2018 were up more than 200% on the £238,000 figure for 2017
Woman scratching
Labskin's services allow companies to test their products on a human skin equivalent

Integumen PLC (LON:SKIN) said “positive results” from a major restructuring of its Labskin subsidiary had helped boost earnings in 2018.

In a trading update, the skincare group said revenues for 2018 were up more than 200% on the £238,000 figure for 2017, while its order book had increased to £247,000 from £37,000 year-on-year.

The firm added that Labskin had reported a 480% increase in sales in the second half of the year, while its STOER For Men skin products division had reached break-even in the period with recurring orders to June 2019 to maintain at or above breakeven.

Integumen also said it had removed around £1.19mln of short and long-term obligations following the disposal of its subsidiary TSPro GmbH in December.

Looking ahead, the company said results from testing of Labskin AI the integration of data analytics using the Labskin-On-A-Chip portable microbiology were expected in early Q2 2019, while additional Labskin laboratories at Integumen’s HQ in York were expected to be ready in February.

Labskin Cannabinoid (CBD) testing protocols were also being prepared and would be offered to existing and new skin-care clients with the firm already testing CBD oils with its STOER For Men product range.

Gerard Brandon, chief executive of Integumen, said the company had been “transformed to become a vertically integrated business”, adding that Labskin allowed companies to “test their products on human-like skin in a real-world environment with full access to multiple state-of-the-art partner technologies” and that the firm “no longer simply manufacture and sell skin-testing kits”.

In early trading Monday, Integumen shares were down 1.6% at 0.58p.

View full SKIN profile View Profile

Integumen Timeline

Related Articles

glasshouse
January 08 2019
Its plans to become a first-mover seed-to-consumer business here in the UK, following the model pioneered in Canada
Weight loss
January 07 2019
A deal with Indian firm Zeon Lifesciences in January is the ninth deal the firm has secured for the weight loss product
1542204301_heart.jpg
November 14 2018
The goal of the program is to extend the visualization extracted from 2D ultrasound images and visualize 4D images

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use