COLLAGEN Solutions, the manufacturer of biomaterials and regenerative medicines, has booked revenue growth of 14.4 per cent and begun work to expand its Glasgow site in response to increased demand.
The firm said four new customer contracts were secured and it began to supply 10 new customers with an increased average value of new customer contracts compared to previous years.
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It said its core supply business growth of 56% was driven by tissue sales, which more than doubled, and collagen, which grew at 13%. Revenue reached £2.23m against £1.95m while the pre-tax loss of £1.19m sat against £1.06m, with post tax losses narrowing slightly at £980,000.
Jamal Rushdy, chief executive of Collagen Solutions, said the firm was reporting the third consecutive six-month period of double-digit percentage sales growth.
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He said: “We have shown particularly strong growth from our tissue business and also are continuing to bring on new customers and contracts from our global sales team.
“Our product development teams remain focused on development projects for customers, providing a solid platform for future contract manufacturing business.
“Finally, we are investing in our manufacturing capacity to ensure we can continue to support future growth and we look forward to a successful remainder of the year.”
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