Byotrol PLC Trading Update (4316Y)
09 Maggio 2019 - 8:00AM
UK Regulatory
TIDMBYOT
RNS Number : 4316Y
Byotrol PLC
09 May 2019
9 May 2019
Byotrol plc ("Byotrol" or the "Group")
Trading Update
Byotrol, the specialist anti-microbial technology company is
pleased to announce an update on its trading for the year ended
31(st) March 2019.
The Group's financial results for this year include seven months
of contribution from Medimark Scientific Limited ("MSL"), acquired
on 30 August 2019. On that basis, the Directors are currently
expecting:
-- consolidated full year revenues of around GBP4.2m, in line with market expectations.
-- an EBITDA loss in the region of GBP450k subject to audit,
increased by the delayed regulatory approval in the US (now
received) and by higher marketing and research costs in the US.
Over the last six months we have continued to make good progress in
the US, so the Directors are confident that the slightly increased
investment was merited.
-- cash balance remains healthy at GBP2.85m. This is following
the acquisition of MSL and compares to GBP3.5m at 31st March
2018.
The Directors are very pleased with progress over the last year
and since year end, with highlights including:
-- MSL continues to perform well, with product sales into animal
and human healthcare businesses remaining strong, benefiting from
strong customer relationships and the decline of competitors unable
to fulfil new regulatory requirements.
-- In the US, the trial at Target of Byotrol24 surface sanitiser
has now been extended across an increased number of stores. Two new
long-lasting fragrance versions are now on Target's shelves and the
original versions are now being re-propositioned for more-targeted
household uses. We are also now close to securing an additional new
national retailer trial in the US.
The MSL and Byotrol teams are working together well and are
uncovering many potential synergies across the Group. We will seek
to release these benefits in the new financial year, as the
earn-out proceeds towards its conclusion in March 2020.
David Traynor, Chief Executive of Byotrol, said:
"Byotrol is continuing to progress well and all key strategic
initiatives are performing to plan. We are very excited about the
potential for the enlarged business including MSL and for the
synergies that will be released from the combination in due
course."
Enquiries:
Byotrol plc
David Traynor - Chief Executive 01925 742 000
finnCap
Geoff Nash/Kate Bannatyne - Corporate Finance 020 7220 0500
Richard Chambers - ECM
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist
anti-microbial technology company, operating globally in the Food,
Industrial, Healthcare and Consumer sectors, providing low toxicity
products with a broad-based and targeted efficacy across all
microbial classes; bacteria, viruses, fungi, moulds, mycobacteria
and algae.
Byotrol's products can be used stand-alone or as ingredients
within existing products, where they can significantly improve
their performance, especially in personal hygiene, domestic and
industrial disinfection, odour control, food production and food
management.
Byotrol develops and commercialises technologies that create
easier, safer and cleaner lives for everyone.
For more information, please go to www.byotrol.co.uk
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END
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