Byotrol boss confident it can clean up

BYOTROL, the North West company which has pioneered a germ-killing agent used in a range of home and industrial products, said it has continued to make good progress despite a slight increase in half year losses.

The AIM-listed company said the six months to the end of September had seen a number of positives – not least a “potentially transformational” four-year contract with Rentokil Initial, where a employees in 16 countries will use Byotrol’s hand hygiene and surface sanitisation products.

Sales in the period were largely unchanged at £923,384, compared with £922,270, while losses grew from £1.22m to £1.32m.

Byotrol has recently strengthened its balance sheet with a £2.3m rights issue to allow it to further develop and market its products, which kill bacteria such as MRSA and E.coli.

The Daresbury-based company’s technology is available in a number of retailers – from Tesco where the product is used in an anti-bacterial multi-surface cleaner to Boots, where it is used in an own-brand foot spray.

A range of baby-focused products has been developed for the owners of the Tommee Tippee brand too.
 
Commenting on the results chief executive Gary Millar said: ““Total revenues for the period were in line with the comparable reporting period last year, and reflected growth of 3.2% in underlying product sales.

“This represents real progress in the execution of our high growth strategy and is coincident with the opening of new distribution channels and the ending of some non performing exclusivity arrangements.

“The announcement of a major new agreement with Rentokil Initial plc validates our strategy of partnering with organisations keen to capitalise on the benefits of Byotrol’s superior technology. The Rentokil deal is potentially a transformational supply contract for Byotrol and we have started to deliver initial trial orders.

“We also continue to make excellent progress in the consumer field with further co-branded product launches with our partners, including the launch of new products, and the continuing development of our important relationship with McBride plc.”

He said the fund-raising has been achieved at a time of “significant market uncertainty” and its success “endorses our belief that Byotrol’s re-focused strategy bodes well for the future.”