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Byotrol in line with previous guidance

Tuesday, 13th December 2016
Byotrol reports excellent progress in all three key strategic initiatives in the six months to the end of September and that it is on track to be EBITDA positive for the full year.

The group says trading is in line with previous guidance.

The group reports progress in all three key strategic initiative with "all testing now completed for submission to US Environmental Protection Agency ("EPA") for approval of our long-lasting surface care product. Formal dossier to be filed pre-Christmas. In our joint marketing partnership with Solvay SA, commercial and technical discussions are under way with customers. Our non-alcohol based hand sanitising formulations are making good progress in UK (including in the NHS), in Japan and in the US."

The group says financial results for the year are heavily skewed in favour of H2, due to the timing of (previously announced and contracted) milestone and partnership payments, which, together with R&D tax credits, are expected to add in excess of £1.1m to revenues and gross margin in H2.

Headline numbers for the six months to 30 September 2016: turnover of £909k (versus £1,409 in comparable period FYE 2016) and loss before tax of £576k versus £449k in the comparable period.

Chief executive David Traynor said: "The Company is now on the way to become the high-quality technology business we have been aiming for. Development deals are providing strong cash inflows and results for the full year are expected to show substantial progress."

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