Kiotech set to beat estimates

AIM-quoted Kiotech International says that its underlying pre-tax profit in 2010 will be better than expected. Kiotech supplies feed additives for aquaculture and agriculture. The benefits of the acquisition of Optivite are showing through earlier than expected. Greater buying power is helping to offset higher raw materials costs. House broker FinnCap expects long-term growth to come from Brazil, China, Chile and Ukraine. The broker believes that Kiotech will report a profit that matches or betters its estimate of £1.4m. There is £3.3m in the bank, although this is lower than the £4.6m reported for the end of June 2010. The decline in cash is down to the purchase of assets. The 2010 figures will be published in mid-April. Anpario