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Pre-close Trading Update

1 Feb 2016 07:00

RNS Number : 5211N
TyraTech, Inc.
01 February 2016
 

Strictly Embargoed for 07.00: 1st February 2016

TyraTech, Inc.

("TyraTech" or the "Company")

Pre-Close Trading Update

TyraTech, Inc. (AIM: TYR and TYRU), a life sciences technology company focused on nature-derived insect and parasite control products announces its pre-close trading update ahead of its preliminary results for the year ended 31 December 2015.

2015 has been a step change year for the business with a large increase in year on year revenues and healthy gross margins. This change has been driven by the continued commercialisation of the Vamousse® head lice treatment and shampoo formulations.

Vamousse® has received wide spread retail acceptance in the USA and UK as well as strong consumer endorsement of the efficacy of the product and growing sales. Vamousse® is now the fastest growing national brand head lice product in the US. The Vamousse brand is also well established and growing market share quickly in the UK and the Company plans to launch into other important European markets over the next couple of years.

Whilst total revenues for the year are expected to be marginally lower than expected, the net loss for the year is expected to be in line with expectations. The Directors believe that the discrepancy in revenue expectations has arisen primarily as a result of the difficulties in budgeting the timing of revenues arising from the on boarding process of multiple new retailers.

In November 2015, TyraTech successfully completed a Placing raising £3.2m giving the Company sufficient cash resources to continue to invest in its business plan. In order to further monetise its technology platform and continue its revenue growth, the business will continue to support its Vamousse® brand; as well as the recently announced move into the Animal Health market with its PureScience™ products. These will be distributed by MWI Animal Health (NASDAQ:ABC) the leading animal health distribution company in the United States.

The preliminary results for the year ended 31 December 2015 will be announced on 7 April 2016.

*-ends*-

 

For further information please visit: www.tyratech.com or contact:

TyraTech Inc.

 

Bruno Jactel, Chief Executive Officer

Erica Boisvert, Chief Financial Officer

 

Tel: +1 919 415 4340

Tel: +1 919 415 4287

 

SPARK Advisory Partners Limited (Nominated Adviser)

Matt Davis / Mark Brady

 

 

 Tel: +44 20 3368 3551

 

Allenby Capital Limited (Joint Broker)

Chris Crawford

 

 

Tel: +44 20 3328 5656

 

Whitman Howard Limited (Joint Broker)

Ranald McGregor-Smith/ Niall Devins

 

 

Tel: +44 20 7087 4555

 

Belvedere Communications (PR)

John West / Kim van Beeck

 

 

Tel: +44 20 3567 0510

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTPGUWCGUPQGQB
Date   Source Headline
27th Apr 20129:59 amRNSAward of Share Options
20th Apr 20122:46 pmRNSHolding(s) in Company
18th Apr 20121:03 pmRNSHolding(s) in Company
10th Apr 20123:00 pmRNSDirector Dealing, Issue of Shares and AR Amendment
30th Mar 20122:36 pmRNSDirectorate Change
15th Mar 20125:00 pmRNSHolding(s) in Company
7th Mar 20122:04 pmRNSHolding(s) in Company
6th Mar 20127:00 amRNSIssue of Equity
5th Mar 20125:26 pmRNSHolding(s) in Company
2nd Mar 201211:42 amRNSHolding(s) in Company
27th Feb 20125:15 pmRNSResult of Special Meeting
17th Feb 201212:43 pmRNSAppointment of Joint Broker
14th Feb 20121:00 pmRNSProposed Placing and Subscription
2nd Feb 20129:00 amRNSTrading Update
1st Feb 20127:00 amRNSChange of Adviser
11th Jan 20127:00 amRNSTrading Update
7th Dec 201110:44 amRNSReplacement: Migration of Shares
7th Dec 20117:00 amRNSMigration of Shares and Block Listing Review
26th Oct 20117:00 amRNSCourt ruling in favour of TyraTech
25th Oct 20117:00 amRNSAdvisor appointed to seek Product Sale Partners
19th Oct 20117:00 amRNSTyraTech appoints a Head of European Operations
7th Oct 20117:00 amRNSMigration of shares
23rd Aug 20117:00 amRNSGerman Registrations for Three Aerosol Products
17th Aug 20117:00 amRNSDirector/PDMR Shareholding
11th Aug 20113:07 pmRNSDirector/PDMR Shareholding
11th Aug 20117:08 amRNSInterim Results
27th Jul 20115:38 pmRNSResult of AGM
30th Jun 20117:00 amRNSPosting of Annual Report and Accounts 2010
24th Jun 201112:01 pmRNSDirector/PDMR Shareholding
10th Jun 20115:55 pmRNSDirector/PDMR Shareholding
10th Jun 20115:46 pmRNSDirector/PDMR Shareholding
10th Jun 20117:00 amRNSPreliminary Results
7th Jun 20116:08 pmRNSDirector/PDMR Shareholding
1st Jun 20118:00 amRNSCourt ruling in favour of TyraTech
27th May 20114:56 pmRNSDirectorate Change
1st Mar 20118:00 amRNSShare migration to unrestricted trading line
25th Feb 20118:00 amRNSBlock listing application
4th Jan 20119:01 amRNSHolding(s) in Company
29th Dec 20102:23 pmRNSHolding(s) in Company
21st Dec 20102:26 pmRNSMajor Shareholdings
21st Dec 20109:00 amRNSIssue of Equity
30th Nov 20108:16 amRNSHolding(s) in Company
12th Nov 20103:31 pmRNSDirector Remuneration & Treasury Share Readmission
26th Oct 20102:59 pmRNSShare Migration to Unrestricted Trading Line
26th Oct 20102:59 pmRNSShare Migration to Unrestricted Trading Line
21st Oct 20103:22 pmRNSAward of Share Options
21st Oct 20103:22 pmRNSAward of Share Options
20th Oct 20107:00 amRNSSupply Agreement Signed With Terminix
6th Oct 20107:00 amRNSSignificant reorder from Terminix
4th Oct 20107:00 amRNSCorporate Broker Change

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