LONDON--Byotrol PLC (BYOT.LN), a anti-microbial hygiene company,
Tuesday reported a narrowed pretax loss for fiscal 2013, and said
that it expects to achieve break even and profitability in the near
term, despite slower than planned progress.
MAIN FACTS:
-Pretax loss for the 12 months ended March 31 amounted to 1.7
million pounds, compared with a pretax loss of GBP2.8 million in
the year ago period.
-Loss before interest, depreciation, amortization and tax GBP1.6
million versus loss GBP2.6 million.
-Revenue GBP2.2 million versus GBP2 million.
-Administrative expenses excluding depreciation and amortization
GBP2.2 million versus GBP3.1 million.
-Diluted loss per share 1.21 pence versus loss 2.23 pence.
-First profit contribution in full year from joint venture,
Byotrol Consumer Products Ltd (BCP).
-Adoption of Byotrol products across entire Marks & Spencer
U.K. store estate.
-BCP enters joint development agreement with Albaad Ltd and also
anticipates further product launches with Tesco via Robert McBride
PLC.
-Kimberly-Clark has elected not to proceed with a product launch
with consumer products joint venture, Byotrol Consumer Products Ltd
(BCP), on the timescales originally envisaged.
-BCP's Intellectual Property License Agreement with
Kimberly-Clark announced in August 2012 has been renegotiated.
-Under the new terms, Kimberly-Clark has agreed to accelerate
certain partner payments to BCP and release the rights of
exclusivity to the Byotrol technology initially granted to them
under the Licensing Agreement.
-Confident that the business remains well positioned to
accelerate growth in 2013/14.
-Shares on Monday closed at 8 pence, valuing the company at
GBP12 million.
-Write to Tapan Panchal at tapan.panchal@dowjones.com
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