OptiBiotix shares were up 0.8% to 20.6p in late afternoon trading on Tuesday following a reported 45.3% rise in revenue to £2.2 million against £1.5 million in FY 2021.
The firm announced a 27.7% increase in gross profit to £1.1 million from £879,000, alongside a climb in its Probiotic business sales of 34% to £1.1 million compared to £800,000 with a 92.6% spike in underlying profit sales year-on-year.
OptiBiotix confirmed its Prebiotics business sales grew 59.3% to £1.1 million against £600,000 the year before, with underlying sales rising by 122%.
The company mentioned both its Prebiotics and Probiotics sectors experienced profitable trading with EBITDAs of £13,000 and £179,000, respectively.
The group further noted a significant increase in the value of its holding in SkinBio therapeutics from £8.9 million to £13.7 million, resulting in a group net profit of £6.3 million compared to £5.8 million in the previous year.
OptiBiotix reported a total cash on balance sheet at the close of 2021 rise of 122% to £2 million from £900,000 year-on-year.
“With our products winning awards in several jurisdictions and an increasing number of large companies like The Hut Group, Holland and Barrett, AlfaSigma, Apollo Hospitals, and Nahdi Medical using our products, we are in strong position for further growth” said OptiBiotix CEO Stephen O’Hara.
“With no debt, a healthy balance sheet, a growing reputation within the industry, second-generation products close to commercialisation, and growing consumer interest in the microbiome and gut health, the Company is in a strong position for continued growth in this exciting area of healthcare.”