Truscreen Group Limited (ASX/NZX: TRU) has reported its preliminary, unaudited financial results for the year ended 31 March 2022, showing product revenues up 48% YOY and SUS units/revenues up 42% YOY.
The Company recorded its first sales in Eastern Europe, completed the COGA trial in China with outstanding results and achieved National Pricing Approval.
A firmware upgrade was implemented during the year, improving cybersecurity and reducing maintenance costs, while a provision for impairment of non-current assets was booked due to macro-economic uncertainty.
Net operating cash outflow was higher than the prior year, with cash and cash equivalents of $2.8m.
The Company made solid progress in the 2022 financial year, with good growth in China revenues, first sales in Eastern Europe and product registration received in 5 counties.
Further, the Company appointed a Marketing & Communications Manager and an Interim CEO and is looking to appoint a full-time CEO.
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