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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
 
 
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Date   Source Headline
17th Dec 20154:01 pmRNSTR-1: Notification of Major Interest in Shares
4th Dec 201511:00 amRNSTR-1: Notification of major interest in shares
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22nd Jun 20157:00 amRNSFinal Results
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21st May 20155:45 pmRNSMigration of Shares
22nd Apr 20157:00 amRNSDirector's Dealings
20th Apr 20157:00 amRNSEnvance LLC amended: Sharpened strategic focus
9th Apr 20151:14 pmRNSMigration of Shares
8th Apr 20157:00 amRNSListing with Walgreens in the USA
27th Mar 20159:41 amRNSMigration of Shares and Exercise of SARs
25th Mar 20157:00 amRNSVamousse now distributed by CVS in the USA
3rd Mar 20157:00 amRNSVamousse now listed by the top 3 distributors, USA
25th Feb 20157:00 amRNSLloyds and Day Lewis Pharmacy listings
16th Feb 20155:01 pmRNSDirector's Dealings
2nd Feb 20157:00 amRNSVamousse at Walmart and Cardinal Health USA
15th Jan 20157:00 amRNSAppointment of Chief Financial Officer & Treasurer
2nd Dec 20147:00 amRNSTrading Update
1st Oct 20147:00 amRNSExercise of Warrants
29th Sep 20147:00 amRNSInterim Results
27th Aug 20147:00 amRNSVamousse products coming to Sainsbury's and Tesco
8th Aug 201410:30 amRNSHolding(s) in Company
5th Aug 201410:29 amRNSHolding(s) in Company
1st Aug 20145:49 pmRNSHolding(s) in Company
1st Aug 20142:40 pmRNSHolding(s) in Company
28th Jul 20145:35 pmRNSResult of Special Meeting & Director Shareholdings
16th Jul 20147:00 amRNSResult of AGM
16th Jul 20147:00 amRNSPlacing to raise £3.5m and launch of UK Vamousse
26th Jun 20147:00 amRNSFinal Results
22nd May 20144:02 pmRNSMigration of Shares
19th May 20146:15 pmRNSMigration of Shares
19th May 20147:00 amRNSVamousse product line available online across USA
30th Apr 20147:00 amRNSNatunex product launched across USA
24th Apr 20147:00 amRNSUSA Pest Control Patents Secured
8th Apr 20146:10 pmRNSDirector's Dealings
7th Apr 20144:41 pmRNSDirector's Dealings
1st Apr 20147:00 amRNSVamousse at over 4,000 Walmart Stores in USA
7th Mar 20147:00 amRNSMigration of Shares
6th Mar 201411:48 amRNSHolding(s) in Company
6th Mar 20147:00 amRNSAward of Share Options
24th Feb 20147:00 amRNSProposed Migration of Shares
18th Feb 20143:38 pmRNSResult of Special Meeting
13th Feb 20149:47 amRNSHolding(s) in Company

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