PIONEERING prosthetic limb-maker Touch Bionics has narrowed its underlying pre-tax losses from around pound(s)588,000 to pound(s)93,684. Annual accounts for the business, which is registered at
Touch Bionics had previously indicated it was on course to post a number in that region and was hopeful of booking a small after-tax profit.
The accounts show it made an underlying bottom-line profit of pound(s)3,716 thanks to a tax rebate of pound(s)93,684, compared to a loss of pound(s)444,186 in 2012.
However, the total 2013 figure did not include a pound(s)164,980 charge for share- based payments which pushed the business to a loss of pound(s)161,264.
Adding in those share- based payments saw the total 2012 after- tax loss come in at pound(s)825,413.
"All i-limb devices are now controlled via a mobile app. New i- limb coverings and further improvements to i-limb digits for patients with partial hand loss demonstrated our commitment to innovation, patient comfort and the restoration of the ability to perform activities of everyday living.
"The next year will show increased growth in sales and expansion into European markets, whilst continuing with the strong [research and development] programme."
Around 4,000 Touch Bionics devices are installed around the world, with 95% of sales outside the
The accounts show staff costs at the Livingston,
Directors' emoluments at Touch Bionics ticked upwards from pound(s)429,000 to pound(s)479,243, with the highest paid seeing theirs rise from pound(s)232,000 to pound(s)263,407.
The company introduced a new pound(s)500,000 short-term loan in 2013 with interest charged at 12% per annum.
The accounts state it is payable in full after one year and was received from
PIONEERING prosthetic limb-maker Touch Bionics has narrowed its underlying pre-tax losses from around pound(s)588,000 to pound(s)93,684.
Annual accounts for the business, which is registered at