24th Sep 2020 14:51
Byotrol PLC - developer of consumer and professional antimicrobial technologies and products - For its financial year ended March 31 posts pretax loss of GBP43,000, swinging from profit of GBP341,000 the year prior. This is despite 7.0% rise in revenue to GBP6.1 million from GBP5.7 million and gross profit increasing to GBP420,000 from GBP360,000, with progress credited to an improved product mix.
Recognises exceptional cost of GBP382,000 from zero year prior and amortisation charges of 279,000 from GBP147,000.
Looking ahead, Byotrol says it anticipates profitability to exceed previous forecasts as it sees good performance amid the pandemic, which is expected to permanently increase global demand for antiviral and hygiene products and technologies.
"Trading remains strong across all key areas of the business and supply chains are now considerably easier than in March and April. Costs remain under control and certain costs, including those relating to exhibitions and travel, have been significantly reduced, at least in the short term, it said.
"Our forward order book now sits at GBP1.1 million, reflecting a modest summer lull in purchasing activity and to some extent the evolution of the customer base. More sales are now being settled from stock, in which we have invested substantially since year end. We are also engaged in discussions with a small number of potential licensees with regard to IP licenses, although some of these are at an early stage," the company adds.
Cash as at June end is GBP1.7 million, down from GBP2.8 million the year prior.
Current stock price: 7.30 pence
Year-to-date change: up more than four-fold from 1.68p
By Ife Taiwo; [email protected]
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