Byotrol PLC- Manchester, England based firm - Swings to a pretax loss of GBP1.3 million for the year that ended on March 31, from a profit of GBP1.0 million the year before. Revenue plunges to GBP6.3 million from GBP11.2 million, as product sales fall 49% to GBP5.2 million from GBP10.2 million.
Says this has resulted in an adjusted earnings before interest, tax, depreciation and amortisation of GBP39,000, down from GBP1.8 million the year before.
Byotrol says it expected "product sales and income from royalties to fall this year relative to the pandemic period", and a "difficult trading environment as overstocking across the industry worked through".
Byotrol Chair John Langlands says: "Our markets do continue to offer significant opportunities and we remain highly confident that we are on the right path to taking advantage of them. We remain optimistic about future growth and profitability. "
Current stock price: 2.69 pence, up 1.6%
12-month change: down 46%
By Xindi Wei; xindiwei@alliancenews.com
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