ANNOUNCEMENT: Goodbody Health confirms strong 2021 revenue continuing into 2022

Goodbody Health Inc.
(“Goodbody” or “Goodbody Health” the “Company” or the “Group”)

10th March 2022

Goodbody Health confirms strong 2021 revenue continuing into 2022 

Goodbody Health (AQSE: GDBY) is pleased to announce that, the unaudited revenue figures for the year ended 31 December 2021 are expected to be around £17m which is 8 times 2020. Even with the expected drop off from PCR testing in 2022, the Company generated revenue, in the first two months of 2022 to the end of February, of over £3.8m showing that Q1 is still performing well.

The management team are rolling out blood testing and other services through the existing Goodbody clinic network and also opening up new clinics to mitigate the fall in COVID testing revenue. As at today, over 180 Goodbody Clinics and partner clinics are in operation or in progress of being opened, most of which can now offer blood testing. Goodbody Clinics have today carried out over 150,000 PCR tests as well as the increasing full range of other tests including blood testing from finger prick or blood draws, saliva tests and many more. offering a robust choice that help our customers ‘know more, live better.’ As at today we can now offer 34 different tests and this number will increase over the next few months.

At the same time the Group continues to ensure it is in the best position to increase CBD sales once the Novel Food registration process completes. Its CBD isolate and distillate produced in Poland and tested at every step, leads the field in Europe for quality, while Phytovista Laboratory with its more accurate, accredited test confirms the Group as leading the way in the sector as compliance requirements increase.

The group expects to see a dip in revenue in the first half of 2022 before it climbs back to previous strong levels in the latter part of the year and expects to close the year with a solid profitable position.

Geremy Thomas, Executive Chairman, said: “I am pleased that the strategy we have set ourselves is progressing well to secure the future position of the Company in the Health and Wellness sector and help everyone feel in control of their own health.

For further information:

Marc Howells
Chief Executive Officer
Goodbody Health Inc.
+44 (0) 20 7971 1255
[email protected]
www.goodbodyhealth.com

AQSE Growth Market Corporate Advisor
Corporate Finance
Antonio Bossi / George Morgan
Arden Partners Ltd
+ 44 (0) 20 7614 5900

Anne Tew
Chief Financial Officer
Goodbody Health Inc.
+44 (0) 20 7971 1255
[email protected]
www.goodbodyhealth.com

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