Byotrol full year revenues to disappoint as deal is signed with M&S

Byotrol, a company which develops anti-microbial hygiene technologies, disappointed investors with the news that although revenue for the year ending March 31st 2013 will be above that of the previous year, it will be lower than previously anticipated.

Byotrol, a company which develops anti-microbial hygiene technologies, disappointed investors with the news that although revenue for the year ending March 31st 2013 will be above that of the previous year, it will be lower than previously anticipated.

This was because sales of the group's UltraProtect range has been slower-than-expected, mainly as a result of additional regulatory approvals required in European territories.

Meanwhile, the company also reported 15% overall growth in revenues year-on-year after 10 months, up from 11% at the interim stage.

Sales within the UK food sector double, while first sales were achieved within the sub Saharan African Pet and Vet markets and the North African healthcare markets.

"Due to significant tight cost control and a newly agreed invoice discounting facility the company still anticipates that it will have sufficient cash to take the business to its target of breakeven and cash generation in H1 financial year 2013/14," the group said.

Deal signed with M&SThe company also announced Friday that Marks and Spencer has entered into an agreement to use Byotrol sanitisers as their in-store surface hygiene solution in UK.

The product will be rolled out over 500 M&S stores in a move which follows the adoption of the product within the retailer's newly launched Deli operations.

Gary Millar, Chief Executive at Byotrol, said: "Byotrol is very pleased to be adopted so widely by such a trusted household brand name. It is a further endorsement of the credentials of the Byotrol technology, and illustrative of the potential for the company."

Commenting on the trading update, he said: "We are on track towards achieving our overall financial objectives. Whilst the delays in the sales of the UltraProtec range are frustrating, Byotrol has continued to achieve considerable growth elsewhere by developing further large scale commercial relationships, as illustrated by our Marks and Spencer agreement.

"Consequently, we remain very positive about the prospects for the Byotrol technology, and look forward to updating the market on further commercial progress at the earliest opportunity."

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The best investment trusts to buy for 2021
Investment trusts

The best investment trusts to buy for 2021

Sectors ranging from emerging markets to student accommodation look poised to do well this year, says David Stevenson, as he picks the best investment…
19 Jan 2021