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

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

NS&I brings back one-year fixed bonds with highest rates since 2010
Personal finance

NS&I brings back one-year fixed bonds with highest rates since 2010

NS&I’s one-year fixed bonds are back on sale after being pulled off the market in 2019 - but is the rate any good?
1 Feb 2023
When will interest rates go up?
UK Economy

When will interest rates go up?

Interest rates are now at 4%, and they could rise further in the months ahead.
3 Feb 2023
Bank of England raises interest rate to 4%
Economy

Bank of England raises interest rate to 4%

The Bank of England raised rates by 0.5%, marking the base rate’s 10th consecutive increase.
2 Feb 2023