Cellular Goods PLC (LSE:CBX) saw its streamlining programme result in a cost base reduction of 56% for its first half ending February 28, 2023, which helped to reduce year-on-year operating losses by 24% to £1.81mln, or -36p per share.
The company said its revenue for the first half increased by 140% to £31,000 helped by an expanded product range, with the introduction of three new rejuvenating skincare products and a gift set collection for the festive season.
Additionally, the cannabinoid-powered skincare company signed international supermodel and former Miss Universe Denmark Helena Christensen to be the face of its ‘Rejuvenating Skincare Campaign’ with over one million social media followers.
Cellular Goods also entered a new market with the shipping of its products to the US from September 2022.
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