Hygiene group says annual results will exceed expectations
AIM-listed Byotrol said it expects revenues and EBITDA for the year to March 31, to be “significantly ahead” of current market expectations.
The Cheshire-based hygiene group has seen orders for its sanitising products soar since the outbreak of the coronavirus.
In a trading update for the year, ahead of the release of annual figures, it said conditions remain strong across the whole group and multiple opportunities continue to be available, across both product sales and IP licensing.
Product sales for the first quarter to June 30, exceeded £3.4m and orders for July and August continue to look encouraging.
The order book at the end of June stood at approximately £2m, and the group’s current net cash position is healthy at £1.8m.
The update said that, while it is early in the year, assuming continued easing in supply chains and a relatively orderly Brexit, the board would expect revenue and EBITDA for the current financial year to be significantly ahead of current market expectations.
Annual results are expected to be released in mid-September, along with a further update on trading.
Chief executive, David Traynor, said: “Trading remains strong in all our markets and supply chains continue to ease to our benefit.
“We remain very confident in the outlook for the group, both for the current year and in the longer term.”