Integumen (SKIN) shares surged today following the announcement it has experienced increased growth in product sales and contract test services at the Company’s wholly-owned subsidiary Labskin.
Integumen said it is on track to “meet or exceed double” the Group's revenues from the 2017 (£238,000).
Increased sales of STOER For Men skin products and a reduced marketing spend led to the current monthly break-even in the Skin Care division, it said.
Shares in Intugumen surged over 80% reaching 0.8p a share.
Gerard Brandon (Chief Executive Officer) commented: "In just the last 3 months the improvement of the Labskin and STOER Skin Care divisions have been transformational.”
“Labskin's new high margin services have seen higher demand with improved revenues from cosmetic, skin, health and wound care companies.”
He added: “there is good visibility of orders for the month ahead.”
The company’s clients range from early start-up biotech companies to Fortune 100 companies with household name, health and cosmetic, brands.
It also recently announced a collaboration with Venn Life Sciences Holdings plc and RinoLab to deliver an Artificial Intelligent product development platform that allow validation of the impact of clients’ products on good and bad bacteria on human skin.
STOER For Men, are the first skin care products that have been certified as having a positive contribution to balancing skin's microbiome.
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