StockMarketWire.com - Life science company DeepVerge warned of wider annual losses as supply-chain problems delayed the executions of orders, holding back growth.

Full-year 2021 pre-tax losses were expected to widen to £3.50 million from £2.87 million.

Supply chain delays and reduced production staff due to COVID infection and isolation in Q4 pushed some shipments and backlog of reagent supplies into Q1 2022, the company said. 'While the losses may exceed market expectations, it is primarily due to delayed execution of 2021 orders,' it added.

Earnings before interest, taxes, depreciation and amortisation, or EBITDA loss was expected to come in at £0.22 million, compared with £0.86 million a year earlier.

DeepVerge also said it had launched Skin Trust Medical, an extension to the roll out of Skin Trust Club, launched in Q2 2021




Story provided by StockMarketWire.com