MicroSalt released its first full-year results as a London-listed company on Thursday and hailed a ‘transformational’ year in which it won contracts with some of the world’s largest food companies.
Given the full year results released today covered the period up until the end of 2023 – when the company was heavily engaged in R&D – there was little of note in terms of financials.
Since listing in London in February, MicroSalt has announced a string of commercial updates demonstrating expansion into new markets and growth in existing markets. We will learn about the financial impact of these developments in the coming reports.
Sales were fairly flat on the prior year in 2023, and, as one would for a company investing in R&D, losses grew slightly.
The big takeaways were the company’s upbeat outlook and insights into relationships with major customers. MicroSalt said key customers were integrating its low-sodium technology into its products, and 2024 would be a key year for orders from new and existing customers.
“This has been a transformational year for MicroSalt and with continued evidence of the timeliness and essential nature of its products as it emerged as a recognised and preferred choice for product reformulation globally,” said CEO Rick Guiney.
“Our geographic outreach is expanding all the time, now with inroads into Asia, Australia, South Africa, the UK, Germany, Canada and Latin America with a resultant boost to our sales pipeline. Furthermore, our consumer products including SaltMe crisps and MicroSalt shakers have successfully provided a low-sodium alternative for households worldwide, cementing our brand as an essential, generation-spanning choice. I am delighted that we can look ahead with the utmost confidence and in eager anticipation of further successes awaiting us”.