Latest Results
Timestrip Plc is pleased to announce its unaudited interim results for the six months to 30 June 2009.
The Group develops, and commercialises patent protected technologies with the capability of radically transforming the markets in which they are targeted. These technologies comprise Timestrip®, iStrip™ and most recently TimestripPlus™, all of which operate in the field of time and temperature measurement and are positioned for adoption within six major mass markets: Food and Beverage, Appliances, Catering/Foodservice, Medical Devices, Pharmaceuticals and Cosmetics/Personal Care.
Key Points
- Revenues increased by 44% to £0.39m compared to H1 2008, gross profit margin improved to 69%
- Loss from operations reduced by 35% compared to H1 2008
- Significant progress with TimestripMedical range:
- 20 new NHS trial sites for TimestripIV product
- Positive feedback on TimestripPlus from NHS pharmacy trials (separate announcement made today)
- Distribution deals signed with Vygon UK for TimestripIV and TimestripPlus
- Cuno, a 3M company added to growing list of prestigious international customers
| 6 months to 30 June 2009 Unaudited £ 000's |
6 months to 30 June 2008 Unaudited £ 000's |
12 months to 31 December 2008 Unaudited £ 000's |
|
|---|---|---|---|
| Revenue | 386 | 268 | 673 |
| Cost of sales | (119) | (128) | (241) |
| Gross profit | 267 | 140 | (241) |
| Administrative expenses | (718) | (843) | (1,750) |
| Loss from operations | (451) | (703) | (1,318) |
| Finance income | 1 | 10 | 22 |
| Finance costs | (3) | (4) | (9) |
| Loss before tax | (453) | (697) | (1,350) |
| Taxation | 69 | 72 | (717) |
| Loss for the period | (384) | (625) | (2,022) |
| Attributable to: Loss for the period attributable to equity holders of the Company |
(384) | (625) | (2,022) |
| Basic and diluted loss per share | (0.09)p | (0.19)p | (0.55)p |
The income statement has been prepared on the basis that all operations are continuing operations.
There is no difference between basic and diluted loss per share.