Byotrol PLC Trading Statement (0638Q)
25 Febbraio 2016 - 8:00AM
UK Regulatory
TIDMBYOT
RNS Number : 0638Q
Byotrol PLC
25 February 2016
25 February 2016
Byotrol plc
("Byotrol" or the "Company")
Trading Update
Byotrol plc, the specialist anti-microbial technology company,
is pleased to give a trading update for the year ending 31 March
2016.
The regulatory approval process with the Environmental
Protection Agency ("EPA") in the USA is on track, with the toughest
microbiological test already completed satisfactorily. The
remaining tests are scheduled to be completed by the middle of the
summer and talks are already underway to commercialise our patented
technology. Completion of the EPA process will enable us to claim
24 hour anti-microbial protection; this is the first such
registration to our knowledge in the USA for consumer products and
puts us well ahead of competitors.
Our partnership with Solvay is progressing well. Some of
Solvay's multinational clients are undertaking detailed testing and
research for a consumer product launch and a small number of high
level commercial discussions are underway. Elsewhere, our final
round of testing with ISS for Byotrol efficacy in hospital wards is
due to start at the end of February, with results expected in
April. More broadly, we have an unprecedented number of deals under
discussion across a spectrum of countries and sectors. Several are
nearing completion and all are with well-known names in their
respective markets. These include, for example, hand sanitisers in
Japanese consumer and medical markets, pet environment cleaning
products in continental Europe and surface care products in the
USA. Our focus is finalising and then closing these deals.
At a divisional level our petcare (Consumer) business is
performing satisfactorily but our food (Professional) business is
behind plan due to the impact of the recent changes in the
regulatory environment relating to limits on use of quaternary
ammonium compounds. As a consequence we are seeing some product mix
issues, however we are addressing these aggressively and are
testing an alternative formulation that we believe will restore our
competitive edge.
Despite the hiatus in the food business and accelerated EPA
costs the Board expects any resulting shortfall in EBITDA for the
second half of the year to be mitigated by R&D tax credits and
confirms the company's working capital position is entirely
adequate for future needs.
As has been flagged in our previous communications, many of our
growth initiatives are based on the licencing model - this makes
sense given our size. However, we have remained dedicated to our
legacy business, where the model is generally to subcontract the
manufacturing and distribution to our customers, primarily in food
and pet. The Board keeps the Company's business model under
constant review, especially given changes under way with the
Biocidal Products Regulation in the EU. It is no secret and openly
discussed by our competitors that industry consolidation is
inevitable. In the interests of shareholders the Board keeps an
open and pragmatic view of the Company's strategic options.
Nicholas Martel, Chairman says: "The Board has never been more
positive about the opportunities and our work load has never been
higher. Our Executive Team have positioned Byotrol to be a
completely different Company over a period of only two years,
whilst overcoming the dislocation to the legacy business from the
changing EU regulations. Most of our development has been directed
towards the consumer market and we are now engaged, alongside
Solvay, with some of the most prominent consumer companies
worldwide - we are seen as the experts on long lasting
anti-microbial technology. From these discussions it is clear there
is strong demand from consumers for long lasting products and we
are perfectly positioned to offer the solution to the consumer
companies' quest to meet that demand."
Enquiries:
Byotrol plc 01925 742 000
David Traynor - Chief Executive
Dawn Marshall - Group Marketing
Controller
finnCap Ltd 020 7220 0500
(Nominated Adviser & Broker)
Geoff Nash/Carl Holmes/James
Thompson - Corporate Finance
Mia Gardner - Corporate Broking
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist developer
of residual antimicrobial technologies, identifying, developing,
formulating and commercialising cutting-edge antimicrobial
technologies.
Our patented suite of technologies deliver powerful
broad-spectrum efficacy with residual performance optimised against
commonly occurring and industry-specific pathogens
Founded in 2005, the Company has developed the technology that
creates easier, safer and cleaner lives
.
For more information, please go to www.byotrol.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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