Byotrol PLC - Chester-based developer of antimicrobial technologies and products - Reports record result, significantly above expectations, in the financial year ended March 31 as Covid-19 boosted demand for sanitiser products. Pretax profit hit GBP1.0 million, up sharply from GBP200,000 a year prior and GBP341,000 two years prior. Notes revenue of GBP11.2 million, up 87% year-on-year from GBP6.0 million and 98% higher than the GBP5.7 million taken in financial 2019.
But revenue from product sales is expected to fall by 10% to 20% in financial 2022. Sales since March 31 have been hindered by venues being shut in lockdown, new competition and an excess of inventory, although the market is now stabilising.
"The sanitiser market has experienced a period of unprecedented activity as a result of COVID-19, resulting in record financial performance for Byotrol. We believe the increase in anti-microbial awareness and mass-uptake of related products will continue long into the future," the company says.
Current stock price: 4.74 pence, down 8.9% on Thursday afternoon
Year-to-date change: down 34%
By Scarlett Butler; scarlettbutler@alliancenews.com
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