TIDMDVRG

RNS Number : 0065V

Deepverge PLC

05 August 2022

5 August 2022

DeepVerge PLC

("DeepVerge" or "the Company" or "the Group")

Trading Update

H1 unaudited revenues grew 95% to GBP6.47m (2021 H1: GBP3.32m)

Full year revenues, weighted to H2, expected to exceed GBP18m

DeepVerge plc (AIM: DVRG), announces that t he Company's unaudited revenues in H1 2022 grew by 95% to GBP6.47m (H1 2021: GBP3.32m). Orders to August of GBP8.87m are booked for delivery in H2 (H2 2021: GBP3.91m). The Board conservatively expects revenue to be in excess of GBP18m for the full year to 31 December 2022 , which is below current market expectations, leading to a smaller projected EBITDA figure, a modest reduction in gross margins and a slight increase in overheads.

Group

   --      H1 Group revenues up 95% to GBP6.47m (2021 H1: GBP3.32m) 
   --      Orders up 128% for delivery in H2 exceed GBP8.87m (2021: GBP3.91m) 
   --      Full year sales weighted to H2 are expected to exceed GBP18m (2021: GBP9.3m) 

Modern Water

   --      GBP6.5m of orders secured to end of July, up 116% in one month (June 30 2022 RNS: GBP3m) 
   --      In addition, multiple GBP1m+ installation bids remain outstanding for site installations 

Labskin and Skin Trust Club

   --      GBP1m+ Skin Trust Club sales in H1 
   --      27,000 club members 
   --      42.5% with skin conditions 
   --      24 skin care clients joined the marketplace 
   --      300+ products added to marketplace 
   --      200+ products to be added shortly 
   --      84,000+ visits to site per month and growing 
   --      6% conversion rate to Skin Trust Club Membership 

Recently, the Company has been remarkably successful in converting its significant prospect pipeline into firm orders, for delivery in 2022, as evidenced by GBP 6.5m worth of deals in China, South Asia, India and Africa (RNS 30 June[i], 18 July[ii] and 1 August[iii]). However, there remains uncertainty as to whether the conversion rate, over the next few months, of prospects into orders for delivery this calendar year will meet previously expected levels.

Gerard Brandon, CEO DeepVerge plc, commented:

"H1 2022 has been another exceptional fast growth period for DeepVerge. Modern Water is in the right place at the right time, to deal with the global water crisis. Also, Skin Trust Club has hit a rich vein of consumer desire to take control by personalising the skin care industry which can be seen by the rush of skin care products being added to the Skin Trust Club marketplace, that only began in Q1 this year.

Although full year 2022 revenues might be lower than previously guided, sales and orders continue to rapidly expand across all divisions in the current macroeconomic and geopolitical environment. We have taken a prudent stance to guide the market on year-end revenue and will provide further updates as necessary."

 
                                                           +44 (0) 7340 055 
 DeepVerge plc                      Gerard Brandon, CEO     648 
 SPARK Advisory Partners Limited    Neil Baldwin/Andrew    +44 (0) 113 370 
  (Nominated Adviser)                Emmott                 8974 
                                   ---------------------  ----------------- 
 Turner Pope Investments (TPI)      Andy Thacker/James     +44 (0) 20 3657 
  Limited (Broker)                   Pope                   0050 
                                   ---------------------  ----------------- 
 

Market Abuse Regulation (MAR) Disclosure

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

About DeepVerge plc (www.deepverge.com)

DeepVerge is an environmental and life science group of companies that develops and applies AI and IoT technology to analytical instruments for the analysis and identification of bacteria, virus and toxins; Utilising artificial intelligent data analytics to scientifically prove the impact of skincare product claims on skin.

[i] https://polaris.brighterir.com/public/deepverge_plc/news/rns/story/xo15n1r

[ii] https://polaris.brighterir.com/public/deepverge_plc/news/rns/story/wvjql0w

[iii] https://polaris.brighterir.com/public/deepverge_plc/news/rns/story/wvjlmzw

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTKZGGRVDGGZZM

(END) Dow Jones Newswires

August 05, 2022 02:00 ET (06:00 GMT)

Integumen (LSE:SKIN)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024 Click aqui para mais gráficos Integumen.
Integumen (LSE:SKIN)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024 Click aqui para mais gráficos Integumen.