12 Apr 2012 07:00
12 April 2012
Byotrol plc
Trading Update
Byotrol plc ('Byotrol' or the "Company"), the developer of anti microbial hygiene technologies, is pleased to provide a trading update for the year to 31 March 2012, in advance of its annual results which are scheduled to be announced in June.
Trading Performance
Byotrol reports that it has seen growth in revenue in the second half of the year and results are expected to be in line with market expectations. Revenue for the year is anticipated to be approximately £1.96m (2011: £1.93m) and the cash balance at 31 March 2012 was £1.6m which is higher than previously anticipated. The Company has also successfully completed the technical milestones required by its Fortune 150 partner.
Operational Highlights
The year to 31 March 2012 saw the market launch of Rentokil Initial plc's UltraProtect™ range of hand and surface sanitising products, powered by Byotrol, under the contract announced in July 2011. Plans are underway to introduce UltraProtect™ across Europe in the remainder of 2012. It is expected that the new revolutionary sanitiser will soon be available in more than ten countries, and it has already launched in the UK, France and Germany. The Company expects further revenue growth in the coming year from this agreement.
The Company also reports that its technology has been adopted across the entire fleet of cruise line operator Holland America as the anti-microbial control choice for high contact touch areas.
Byotrol has continued to receive industry accolades for its revolutionary product as evidenced by its recent receipt of the prestigious 'Chemicals North-West 2012 Innovation Award' and shortlistings for the upcoming Chemicals UK equivalent and British Sandwich Association technical excellence award.
Byotrol Consumer Products Limited continues to work under a Joint Development Agreement with its Fortune 150 partner company having successfully completed the technical milestones required. The two companies are currently completing consumer research and commercial analysis with the aim of a decision on a full commercial agreement in the second half of 2012.
In addition, the Company is now benefitting from its technology being used in products sold by PZ Cussons, the Mayborn Group (owners of the Tommee Tippee brand), Boots and Tesco, among others. In particular, and via its relationship with Robert McBride Ltd, the Company has recently increased its presence in Tesco stores from one to three different trigger spray anti bacterial products.
Gary Millar, CEO of Byotrol, commenting said:
"Byotrol's new commercial strategy is already generating more repeatable, sustainable revenues with key strategic partners. The trading performance and tight cost control shows that the Company is moving in the right direction, and we look forward to further progress in the coming financial year."
Enquiries:
Byotrol plc
Gary Millar - Chief Executive Richard Bell - Finance Director
finnCap Geoff Nash/Christopher Raggett - Corporate Finance Simon Starr - Corporate Broking
Winningtons Tom Cooper/Paul Vann | 01925 742 000
020 7220 0500
020 3176 4722 0797 122 1972 tom.cooper@winningtons.co.uk |
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a leading microbial technology hygiene company, operating globally in the Health, Food, Leisure, Consumer, Industrial and Agriculture sectors, providing a low toxicity product with a broad-based and long lasting efficacy across all microbial classes; bacteria, viruses, fungi, moulds, microbacteria and algae.
The Byotrol product can be used as a standalone product or as a complementary biocide additive to existing products to improve their performance in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.
Founded in 2005, the Company has prioritised the development of a technology that creates easier, safer and cleaner lives through partnering with providers of essential goods and services. Byotrol is the catalyst behind the aptly named global 'Hygiene Revolution'.