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Tissue Regenix Group confirms trading in line with expectations, revenue climbs 25% in HY1 2022

Tissue Regenix Group shares were up 2.4% to 0.5p in late afternoon trading on Tuesday following confirmation of strong trading in line with management expectations in HY1 2022, with a revenue climb of 25% to $11.8 million against HY1 2021.

The company announced its board was confident of meeting its FY 2022 expectations.

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Tissue Regenix Group commented its BioRinse sector had continued to grow over the financial term.

The firm also mentioned the commercial reorganisation of its dCELL segment had started to display benefits as it returned to growth over the period.

The group reported its cash position remained sufficient to support its current business growth plans.

“The focus on executing our 4S strategy has resulted in a continued positive trajectory for the Group, despite the lingering impacts of COVID-19 during the first half of 2022,” said Tissue Regenix CEO Daniel Lee.

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“We are pleased with the continued growth of our BioRinse business and how our dCELL business has responded to the commercial reorganization.”

“We continue to be optimistic in delivering the financial performance anticipated by our Board for the second half of 2022.”

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