LONDON (ShareCast) - (Sharecast News) - OptiBiotix Health said on Monday that invoiced sales of its 'LPLDL' and 'SlimBiome' products as ingredients or final products totalled £0.74m in the first half of its financial year, representing a 398% year-on-year increase.
The AIM-traded life sciences company noted the year-on-year increase in revenue growth from 7.7% in 2018, to 84.7% in 2019, to 398% now, came more agreements generated revenues and its partners grew sales from successful product launches.

The functional fibres division, led by Dr Fred Narbel, reported a profit during the period, while the ProBiotix division was profitable in three of the six months, and the consumer health division was profitable in one of the six months.

The company also received £0.75m of investment income in the period from the disposal of shares in SkinBioTherapeutics.

OptiBiotix signed 15 commercial agreements in the first half - 11 for SlimBiome, and four for LPLDL. The board said the deals opened retail opportunities in the UK, Australia, parts of Asia, the Middle East, and North America.

Sales of LPLDL as an ingredient or final product grew by 477% year-on-year, with the board noting the launch of AlfaSigma's 'Ezimega 3' product, and the commercial growth of Seed Health's 'Daily Synbiotic'.

Sales of SlimBiome as an ingredient or final product grew by 1,309% over the first half of last year, driven by partners in the UK, Australia and the US either launching retail products or building stock levels for the launch of products.

"There is now a trend showing an acceleration in year on year revenue growth as more agreements generate revenues, existing partners grow sales, and more retail partners launch products," said chief executive officer Stephen O'Hara.

"We anticipate further revenue growth in 2020 as interest in the microbiome and products for health and wellbeing grows."

At 0917 BST, shares in OptiBiotix Health were down 0.76% at 52.1p.

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