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RUA Life Sciences ( (GB:RUA) ) has issued an announcement.
RUA Life Sciences reported a significant increase in revenue and profit in its interim results for the six months ending 30 September 2024. The company achieved a 92% revenue growth and reported a profit before taxation of £631k, a notable turnaround from the previous year’s loss. This growth is attributed to strategic measures like the acquisition of the Abiss Group, which strengthened RUA’s medical device manufacturing capabilities and expanded its market reach. The acquisition also contributed a substantial bargain purchase gain due to a favorable acquisition price compared to the value of assets acquired. The company’s cash position remains robust, and its balance sheet has strengthened, indicating positive implications for stakeholders and positioning RUA Life Sciences for future growth.
More about RUA Life Sciences
RUA Life Sciences plc is the parent company of a group of medical device businesses that focus on the exploitation of their proprietary biostable polymer, Elast-EonTM. The company is involved in medical device contract manufacturing and the development of new medical devices, leveraging its intellectual property and expertise to enhance its market position.
YTD Price Performance: 14.72%
Average Trading Volume: 347,132
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £7.01M
For a thorough assessment of RUA stock, go to TipRanks’ Stock Analysis page.
