‘Strong and exciting’ future for hygiene group

Bosses at hygiene specialist Byotrol said the company has “never been in a stronger position” when they announced interim results for the six months to September 30, today.

The Daresbury-based business reported better sales, rising from £930,000 to £1.44m, while pre-tax losses fell from a loss of £804,981 in 2017, to a loss before tax of £581,323 this year.

But the gross profit of £770,000 compares with £340,000 a year ago, and chief executive David Traynor highlighted the potential going forward for the AIM-listed anti-microbial technology firm, after the £4.5m acquisition of Kent-based Medimark Scientific in August.

He said: “We are pleased with solid progress in the first half and delighted to now have Medimark as part of our group.

“It is a transformational acquisition and the two teams are already working well together.

“We look forward to the full contribution from Medimark in the second half and to the numerous benefits that further co-operation and integration will bring.

“With our properly resourced and scaled sales team, healthy cash position and routes to market for our products now identified and becoming increasingly established, we believe Byotrol has never been in a stronger and more exciting position.”

Today’s statement said Byotrol’s three strategic initiatives continue to progress well.

It said post-reporting period, the company filed a patent for a new, naturally-based biocidal product with very strong anti-viral characteristics based on an extract from seaweed, with broad applicability across all markets.

Its cash and cash equivalents at the end of the period stood at £3.55m.

And strong growth is expected to continue in the second half. It said the board remains confident in the outlook for the full year, except for the US, which is expected to make a loss due to administrative delays to EPA approval of new product variants, which is now expected to be satisfactorily resolved in the first quarter of 2019.

Mr Traynor added: “At the time of writing, we remain confident that the pace of growth seen in the first half will continue into the second.

“All parts of the business are currently performing to plan, except for the US.

“The outcome in the US will dictate the overall full year numbers for the group and at present progress is encouraging, although the timing of the expanded trial has been subject to some delays due to the need for further EPA product approvals.

“However, management remain excited by this promising area and remain confident that it can be grown into a significant business.”