Kugler appointed chairman at Byotrol

Germ killing product developer Byotrol saw losses widen and sales slide slightly last year but said the current outlook is promising, as test results demonstrate the effectiveness of its hygiene technology.Revenue in the year to 31 March 2009 eased to £0.93m from £0.95m the year before, while loss before tax widened to £2.98m from £2.77m a year earlier.Cash at the bank at the end of March was £2.86m after the company successfully raised £3.75m through a share placing in November 2008. Broker Charles Stanley calculates that 'with a cash burn of c. £150k per month and breakeven around £4m of product sales, our forecasts show Byotrol funded through to profitability.'The broker recommends buying the stock and has a price target of 25p.'Sales in the first two months of the new financial year have exceeded £0.2m and there is a good level of orders in hand for delivery in the first half implying a growing consistency to trading. Combined with a further £450k licence receipt from Synergy, first half revenues could reach £1m, underpinning our full year forecast of £2m,' the broker added.'Results in major trials have confirmed the superiority of products incorporating Byotrol. A growing awareness of Byotrol's Hygiene Revolution, coupled with a tight and highly focussed sales drive in our key markets, should provide the basis for our future success,' claimed Byotrol's chief executive officer David McRobbie.In a separate announcement, the company said non-executive director Ralph Kugler has been appointed as chairman with immediate effect.