15th Jun 2015 09:13
LONDON (Alliance News) - AIM-listed anti microbial hygiene company Byotrol PLC said Monday it expects to make further progress in its current financial year, as it posted a narrowed pretax loss for its recently ended financial year.
For the year to end-March the company posted a pretax loss of GBP748,660, narrowed from a pretax loss of GBP836,449 a year before, as revenue rose to GBP3.2 million from GBP3.1 million.
The company saw revenue growth in its professional and petcare divisions offset a fall in its consumer segment. Professional revenue was driven by a focus on a smaller number of higher-volume customers and limited price increases. Consumer revenue fell to GBP292,000 from GBP786,000, hit by price wars in the UK, competition and by issues at its main UK supermarket outlet.
Byotrol highlighted big regulatory changes in its industry, with new European Union regulations coming in for biocide products in the food industry.
"The costs of all these changes are still relatively unclear, especially for small-medium-enterprises like ourselves, although they are likely to be substantial. However we have made good progress in absorbing the changes within our lean financial structure and have performed well in upgrading our products, reducing any product labelling issues and building alliances with chemical suppliers to support registration processes." the company said in a statement.
"We are pleased with progress this year. Financial performance is improving, our technology is now better in efficacy and breadth and we are building a network of high-quality partnerships in sales, marketing and product development. We expect to make further progress in all these areas in the coming year," said Chief Executive David Traynor in a statement.
Shares in Byotrol are untraded Monday morning. They last closed at 3.60 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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