- Britannia Life Sciences (BLAB) provided its financial results for the 12-month period ending March 31, 2022
- The company reported revenue and Adjusted EBITDA of $7.3 million and $3.7 million respectively and generated gross profit of $5.3 million with a net cash flow from operating activities of $2.8 million
- At the end of the fiscal year, the company closed a £5 million loan facility with an affiliate of BOOST & Co. Limited to fund the acquisition of an additional 10 per cent interest in Advanced Development & Safety Laboratories Limited. This increased Britannia’s ownership interest in its largest operating subsidiary, to 70 per cent
- Britannia Life Sciences Inc. is a global platform offering an integrated suite of services to assist companies along their product development journey
- Britannia Life Sciences (BLAB) is down 4.55 per cent trading at $0.105 a share as of 1:45 pm ET
Britannia Life Sciences (BLAB) provided its financial results for the 12-month period ending March 31, 2022.
The company reported revenue and Adjusted EBITDA of $7.3 million and $3.7 million respectively and generated gross profit of $5.3 million with a net cash flow from operating activities of $2.8 million.
At the end of the fiscal year, the company closed a £5 million loan facility with an affiliate of BOOST & Co. Limited to fund the acquisition of an additional 10 per cent interest in Advanced Development & Safety Laboratories Limited. This increased Britannia’s ownership interest in its largest operating subsidiary, to 70 per cent.
Q4 highlights:
- The company signed of a master services agreement with Remediation Sciences and Technology to supply compliant cannabinoid ingredients to the UK and European markets
- Its shares were accepted for listing on the Frankfurt Stock Exchange under the symbol L020
- The company formed a new subsidiary, Britannia Mining Solutions Inc., to service the global mining industry by establishing a global network of mining assay labs to address the global backlog in mining assays
- BMS entered into Asset Purchase Agreements with Chrysos Corporation Limited for two Chrysos PhotonAssay units
Britannia CEO Peter Shippen believes that these results demonstrate the strength of the company’s platform in challenging times.
“As we look forward to the rest of the year and beyond, we see great opportunities in new product development in cosmetics, food, and nutraceuticals. We also anticipate seeing significant growth as the UK enters the next phase in becoming the first regulated CBD market. In addition to this positive outlook for our core business, we continue to extend our services into new areas such as medical devices and believe that our subsidiary, Britannia Mining Solutions, is poised to deliver a next generation assay lab and data solution for mining companies.”
Britannia Life Sciences Inc. is a global platform offering an integrated suite of services to assist companies along their product development journey.
Britannia’s services, including product formulations, safety assessments, analytical and microbiological testing, global compliance, and consumer evaluations, are offered to companies ranging from multinationals to startups, particularly in the cosmetics, food, and wellness industries.
Britannia Life Sciences (BLAB) is down 4.55 per cent trading at $0.105 a share as of 1:45 pm ET.
