LONDON (Alliance News) - Anti-microbial technologies developer Byotrol PLC Tuesday said it pretax loss narrowed in the fiscal first half, after a restructure helped create a "leaner more focused platform for growth".
The company acquired the remainder of its consumer products joint venture, Byotrol Consumer Products Ltd.
The company posted a pretax loss of GBP457,733 for the six months ended September 30, compared with a loss of GBP574,082 a year earlier, while revenue crept up to GBP1.7 million, from GBP1.6 million.
Byrotol said it had been encouraged by the merger of its consumer and professional services divisions.
"We are very pleased to have removed the unhelpful split between consumer and professional markets within our group," Byotrol said. "This structure was impeding growth and generating unnecessary cost and overlap between the two companies, issues that are now swiftly being corrected."
The company said this "transforms" its financial profile as there will be synergies and "genuine potential" from combining the Byrotol's technical skills and institutional relationships with its consumer divisions marketing and innovation skills.
Byotrol also completed the roll-out of surfacing cleaning products into 510 Marks and Spencer stores.
"We see many opportunities for developing this relationship and are building on this success with further recent wins," it added.
The loss before interest taxation and amortisation for the six months reduced to GBP392,000 from GBP519,000, as administrative costs fell 7% to GBP1.3 million from GBP1.4 million a year ago.
The stock was trading at 6.00 pence Tuesday afternoon, up 0.38 pence or 6.7%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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