Leaner Byotrol sees revenues rise

BYOTROL, the Warrington-based company behind the long-lasting anti-bacterial technology of the same name, has reported “strong” half year results, which showed revenue growth and losses being slashed.

The AIM-listed group said its products were being adopted in new markets such as China and South Africa as revenues in the six months to September 30 grew 11% to £1.03m.

Chief executive Gary Millar said the Daresbury company had cut fixed costs by 33% during the period, which allowed the business to cut losses by 51% to £680,000 from £1.38m last year.
 
He said: “Byotrol has had a strong half year.  Overall revenues have continued their upward momentum, and in particular core food and beverage sales in the UK were up by 88%, reflecting the successful implementation of the refocused strategy.

“We have put in place additional building blocks for further growth, which will be reflected in the second half of the year. These include new catalogue listings with key facilities management and business services providers; geographic and product expansion of our Petcare activities; product launches in several territories through our agreement with Rentokil Initial; and a strategy to develop our US business supported by unique claims.”

In Byotrol’s Petcare business, products have been launched in China and a new listing gained in Sainsbury’s. A new licensing agreement has been signed with Afrivet for the petcare, veterinary and agriculture markets in South Africa.

Looking ahead Mr Millar said the group is focused on reaching the break-even milestone.

“The business has performed well in difficult market conditions.   Byotrol has continued its sales growth momentum and is now seeing the clear benefits of the operational improvements and significant cost reductions put in place over the last 12 months, and is well on track to achieve our near term objective of break even.

“At the same time we have established further growth platforms through a number of new or improved commercial agreements and key catalogue listings whilst further bolstering our business development capacity.”