By BFN News | 08:42 AM | Thursday 18 February, 2021 Biotech company OptiBiotix has reported a net profit of in the 12 months of the financial year ending 31 December 2020, driven by growing sales and larger margins.
Group net profit for the year was approximately £5.8 million, subject to auditing.
OptiBiotix s Functional Fibres division delivered an EBITDA of £66,271, up from an EBITDA loss of £433,249 in 2019, with total sales of £5.5 million, an increase in sales of 151% over 2019.
ProBiotix, an entirely owned subsidiary, delivered an EBITDA of £75,768, up from an EBITDA loss of £474,205 in 2019, with total sales of £818,481.
Stephen O Hara, CEO of OptiBiotix, commented: ?This has been another year of progress for OptiBiotix with its probiotic and functional fibre divisions achieving profitability by doubling sales, improving margins, and reducing costs, in a very challenging and uncertain global economic environment.