Commercial & Trading Update

RNS Number : 4374X

Byotrol PLC

08 February 2013

 



8 February 2013

Byotrol plc

Commercial and Trading Update

Byotrol to be adopted across Marks and Spencer stores

Byotrol plc ('Byotrol' or the 'Company'), the developer of anti microbial hygiene technologies, is pleased to provide a commercial and trading update.

Byotrol is delighted to announce that Marks and Spencer has entered into an agreement to use Byotrol sanitisers as their in-store surface hygiene solution in UK.  This agreement will see Byotrol anti-microbial technologies rolled out in over 500 Marks and Spencer retail outlets, following its successful earlier adoption within Marks and Spencer's newly launched Deli operations.

Simon Lushley, Senior food technologist at Marks and Spencer, commented:

"Having trialled Byotrol in our own Deli operations and having been pleased with the results achieved, we are adopting Byotrol's unique surface sanitising solution across our entire in-store operations."

Gary Millar, Chief Executive at Byotrol, added:

"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."

This development builds on continued success in the second half of this financial year. Highlights include:

·  15%  overall growth in revenues year on year after 10 months, up from  11% at the interims, including:  

o Sales doubled within the UK food sector

o First sales into sub Saharan African Pet and Vet markets

o First sales into North African healthcare markets

There have however been slower than expected sales of the UltraProtect™ range, powered by Byotrol, the hygiene solution offered by partners Rentokil Initial plc. This was due to additional regulatory approvals required in European territories. This shortfall will have an impact on the results for the financial year ending 31 March 2013.  Revenue for the 12 months to 31 March 2013 is still expected to be significantly up on last year, but lower than previously anticipated.

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.   

Commenting on the trading update, Gary Millar, said:

"We are on track towards achieving our overall financial objectives. Whilst the delays in the sales of the UltraProtect™ 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."

Enquiries:

Byotrol plc	01925 742000
Ralph Kugler, Chairman
Gary Millar, Chief Executive
Duncan Grosvenor, Finance Director
finnCap Limited	020 7220 0500
Nominated Adviser and broker
Geoff Nash/Christopher Raggett Simon Starr (Corporate Broking)
Winningtons	020 3176 4722
Tom Cooper / Paul Vann	0797 122 1972
	[e-mail]

Notes to Editors:

Byotrol plc (BYOT.L), quoted on AIM, is a leading anti-microbial technology hygiene company, operating globally in the Health, Food, Leisure, Consumer, Industrial and Agriculture sectors, providing a low toxicity product with a broad-based and long lasting efficacy across all microbial classes; bacteria, viruses, fungi, moulds and algae.

The Byotrol product can be used as a stand alone product or as a complementary biocide additive to existing products to improve their performance in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.

Founded in 2005, the Company has prioritised the development of a technology that creates easier, safer and cleaner lives through partnering with providers of essential goods and services.  Byotrol is the catalyst behind the aptly named global 'Hygiene Revolution'.

 

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