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LONDON - Probiotix Health Plc (AQSE:PBX), a company specializing in the development of probiotics for cardiometabolic health, has reported a positive financial outcome for the year ending December 31, 2024. The company announced a 13% increase in sales, reaching £1.883 million compared to £1.673 million the previous year. This growth has also translated into a 14% rise in gross profit, which amounted to £997,000, with a steady gross profit margin of 53%.
The financial position of Probiotix Health remains solid, with cash balances totaling £1.65 million, showing an improvement from £1.50 million in 2023. The company has credited its financial success to the onboarding of a record number of new customers and distributors, as well as a robust order book indicating strong current trading.
Following the close of the period, Probiotix Health has signed a significant new supply agreement with Kemin China Technology in the Far East and secured a long-term business relationship with TopHealth in South Korea. Additionally, the company has expanded its product portfolio with the launch of YourBiotixMH & PMH, new menopause and post-menopause formulations aimed at women’s health.
The CEO of Probiotix Health, Steen Andersen, expressed confidence in the company’s trajectory, citing a record order book for the current year, significantly ahead of 2024. With new product launches planned in North America and Europe, the company is optimistic about its progress toward reaching break-even in 2025. Andersen also highlighted the company’s strategic focus on expanding commercial efforts within Europe and exploring key potential new markets.
Probiotix Health is hosting an investor presentation today to discuss these results and provide further insights into their strategy and outlook. This event is part of the company’s ongoing engagement with both existing and potential shareholders.
The information in this article is based on a press release statement from Probiotix Health Plc.
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