PolyNovo Limited: 1HFY20 Results showcasing sales up by 129%

1 min read | February 26, 2020 04:26 PM NZDT | By Team Kalkine Media

A Health Care sector company, PolyNovo Limited (ASX: PNV) released its first half year results for the period ended 31 December 2019. Major milestones which accounted for the Company’s rapid and dynamic growth are mentioned below.

  • Strong sales performance in US market with increasing account penetration
  • Increase of the sales teams in Australia, US and UK
  • In UK and Ireland, 1 Marketer is appointed, and the direct sales team extended to 3
  • CE Mark approval with a quick entry into the DACH region (Germany, Austria, Switzerland) and UK / Ireland

The snippet of the performance is described below.

Parameters

1H FY20 (in $ million)

Change from 1H FY20 (in %)

Sales Revenue

8.57

+129

Total Revenue

10.18

+ 80

Cash on Hand

8.14

- 61

Net Loss

2.42

+26

PNV shares at AEDT 1:43 PM were trading at $2.530, moving downwards by 16.225 percent as compared to the previous close.


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