TIDMBYOT
RNS Number : 2358W
Byotrol PLC
22 April 2021
22 April 2021
Byotrol plc ("Byotrol" or the "Group")
Trading Update
Byotrol (AIM:BYOT) the specialist infection and prevention
control company, is pleased to announce an update on trading.
Results for the year ended 31 March 2021, subject to audit, are
expected to be substantially ahead of the previous year and broadly
in-line with market expectations. Turnover is expected to be in
excess of GBP11m and adjusted EBITDA over GBP1.7m (2020: GBP6.1m
and GBP0.3m respectively).
This strong result reflects the exceptional demand for our
technologies across all markets due to the covid19 pandemic, but
also a secular shift towards the heightened importance of infection
prevention in all our markets, which we expect to continue into the
new financial year and beyond.
Revenue for the year will include a contribution of over GBP0.9m
from licensing and intellectual property transactions, including
multi-year agreements with material guaranteed minimum sales and/or
annual royalty payments. Recent new agreements include:
-- Turtle Wax Europe Ltd which has now licensed our long-lasting
surface sanitisers in Europe for the automotive market. These are
already available in Halfords in the UK, and further launches will
take place in Europe once the various national registrations are
completed.
-- Byoworks (PTY) Ltd in South Africa, a long-standing agent of
the Group and now under new professional management. Byoworks has
licensed all Byotrol technologies for distribution in sub-Saharan
Africa
-- Soltech (Solution Technology Qatar, part of the QALCO group
of companies) for alcohol-free hand sanitisers in Qatar and the
Middle East
Net cash balances at 31 March 2021 were approximately GBP1.7m
(2020: GBP1.4m). The Group is now debt-free, having paid down an
invoice discount facility of GBP0.3m during the year. We have also
invested substantially in stock to quickly and reliably service
customers and reduce risk in our own supply chain. At 31 March
2021, Byotrol stock level was around GBP1.1m, compared to an
unusually low GBP0.3m at 31 March 2020.
Outlook
The Directors remain highly confident in continued growth in our
industry, reflecting clear changes in infection-prevention needs
and in behaviours across the consumer, corporate and institutional
worlds.
This is manifesting in numerous ways, including:
-- larger distributors and businesses having to upgrade their
understandings of infection prevention strategies and now demanding
better-performing, fully data-supported, safe and
regulatory-approved infection prevention chemistries. We are very
well placed to satisfy those increasing demands and are working on
many opportunities in the UK and overseas
-- consumers taking more proactive responsibility for protecting
individuals against infection risk, leading to sustained demand
from retailers and consumer good companies for high performance,
regulatory approved anti-microbials.
Market conditions therefore remain very favourable to Byotrol
and we expect to be able to announce further licensing and
intellectual property agreements this year, across both
Professional and Consumer businesses. We expect to announce our
final results in July.
John Langlands, Chairman of Byotrol, commented:
"This was a good result, delivered in extraordinary market
conditions. We believe that our business is now very well
positioned to serve the post-pandemic world.
Our strategy means that Byotrol will deliver further growth and
profitability in coming years, and will continue to build on the
reliable and increasingly visible income streams it has developed
over the last couple of years. "
Enquiries:
Byotrol plc
David Traynor - Chief Executive Officer
Nic Hellyer - Chief Financial Officer 01925 742 000
finnCap
Geoff Nash/Kate Bannatyne - Corporate Finance 020 7220 0500
Richard Chambers - ECM
Flagstaff Strategic and Investor Communications 020 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon byotrol@flagstaffcomms.com
This announcement is released by Byotrol plc and, prior to
publication, the information contained herein was deemed to
constitute inside information under the Market Abuse Regulations
(EU) No. 596/2014. Such information is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Financial expectations noted above are preliminary, and subject
to year-end financial close and audit review processes.
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection
prevention and control company, operating globally in the
Healthcare, Industrial, Food and Consumer sectors, providing low
toxicity products with a broad-based and targeted efficacy across
all microbial classes; bacteria, viruses, fungi, moulds,
mycobacteria and algae.
Byotrol's products can be used stand-alone or as ingredients
within existing products, where they can significantly improve
their performance, especially in personal hygiene, domestic and
industrial disinfection, odour control, food production and food
management.
Byotrol develops and commercialises technologies that create
easier, safer and cleaner lives for everyone.
For more information, please go to byotrolplc.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFFLLLFZLFBBL
(END) Dow Jones Newswires
April 22, 2021 02:00 ET (06:00 GMT)
Byotrol (LSE:BYOT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Byotrol (LSE:BYOT)
Historical Stock Chart
From Apr 2023 to Apr 2024