19th Dec 2019 11:52
(Alliance News) - Byotrol PLC said Thursday that the first half of its financial year was satisfactory, with steady progress on all fronts, as revenue increased and loss narrowed.
The anti-bacteria and hand sanitising products maker said for the six months ended September 30, its pretax loss narrowed to GBP624,000 from GBP872,000 in a comparable period a year ago.
The company said trading losses are reducing rapidly and will continue to do so as the formal integration with infection control firm Medimark concludes at year end.
Byotrol acquired Medimark for up to GBP4.5 million in August 2018.
Revenue for the period doubled to GBP2.2 million from GBP1.1 million a year before.
Byotrol said revenue was boosted by six months of contribution from Medimark, and steady progress on all sectors.
The company said that based on progress since period end, it remains confident in reporting positive results at the earnings before interest, tax, depreciation and amortization level for the full year, with the degree of profitability dependent on trading in the new calendar year.
John Langlands, non-executive chair, said: "We are pleased with progress in the year to date".
"The team is also working on a number of business development and monetisation opportunities that should improve results for the full year. The board remains confident that the company is on target to deliver sustainable operating profits," Langlands said.
Byotrol shares were down 5.2% in London at 1.65 pence each on Thursday.
By Loreta Juodagalvyte; [email protected]
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