Byotrol plc ('Byotrol' or the "Company"), the developer of
anti microbial hygiene technologies, is pleased to provide a
commercial and trading update.
Following an extensive development process by partners
Byotrol and Rentokil Initial plc ('Rentokil Initial'),
Rentokil Initial last week formally launched the
UltraProtect™ range, powered by Byotrol, under the contract
announced in July 2011. UltraProtect™ is a range of hand and
surface sanitising products for commercial and public use,
featuring a gel hand sanitiser, a foam hand sanitiser, and
handy packs of hand and surface wipes.
Rentokil Initial is one of the largest business services
companies in the world, operating in the major economies of
Europe, North America, Asia Pacific and Africa. Plans are
underway to introduce UltraProtect™ across Europe in 2012. It
is expected that the new revolutionary sanitiser will be
available in more than ten countries - beginning with the UK
and then France and Germany in the coming weeks. This
exclusive range of products will target a number of key
markets including the commercial, medical, hospitality &
leisure and education sectors.
"Our new range of surface and hand hygiene products, powered
by Byotrol's unique technology, will be a valuable element in
achieving Initial's objective of 'Raising Hygiene Standards'
throughout our customers' organisations. It will give our
customers access to a pioneering hygiene solution and enable
us to penetrate new markets."
In addition, through Byotrol Consumer Products Limited
('BCP'), Byotrol is pleased to announce that it has agreed
terms for a six month extension of the Joint Development
Agreement ('JDA') with their Fortune 150 partner company, for
which BCP will receive
$300,000. This follows the successful completion of all
technical milestones and the successful assessment of
Byotrol's technology performance in the plan referred to in
the JDA announced in May 2011. The two companies will now
complete consumer research and commercial analysis with the
aim of a decision on a full commercial agreement.
The Board of Byotrol is pleased to report these significant
commercial developments achieved within the last six months,
which are transforming Byotrol into a better quality, more
sustainable, business. There have, however, been some delays
in anticipated launch dates, and additional investment of
development time, as Byotrol seeks to maximise its potential
margins and focus on better quality, more repeatable
business. These delays will have an impact on the results for
the financial year ending 31 March 2012. Revenue for the
12 months to 31 March 2012 is now expected to be
approximately £2.0m with a consequent effect on the trading
loss for the year.
The Company anticipates having cash of £1.2m at 31 March 2012
and still expects to be trading profitably by the year ending
31 March 2013.
"Byotrol is at a very exciting phase in its development. In
particular the launch of UltraProtect™ is
tremendously positive and will demonstrate the breadth of
success that Byotrol products can achieve through partnering
with established industry suppliers with global reach. We
will continue to work actively on our long term relationship
with Rentokil Initial, in addition to other selected
partners, to achieve a rapid increase in our market
penetration.
"I am also delighted that we have successfully achieved all
the technical milestones envisaged with our Fortune 150
consumer products partner and look forward to the extension
of our joint development agreement.
"The complex nature of the projects involved in generating
more repeatable, better quality revenues, has resulted in
some delays in expected launch dates and as a result our
revenues for the 12 months to 31 March 2012 will be lower
than expected. I am confident that we now have a better
quality business with strong partners that will lead to
sustained growth for the future."
Gary Millar - Chief Executive
Richard Bell - Finance Director
Geoff Nash/Christopher Raggett - Corporate Finance
Tom Jenkins/Simon Starr - Corporate Broking
Tom Cooper/Paul Vann
01925 742 000
020 7220 0500
020 3176 4722
0797 122 1972 tom.cooper@winningtons.co.uk
Byotrol plc (BYOT.L), quoted on AIM, is a leading microbial
technology hygiene company, operating globally in the Health,
Food, Leisure, Consumer, Industrial and Agriculture sectors,
providing a low toxicity product with a broad-based and long
lasting efficacy across all microbial classes; bacteria,
viruses, fungi, moulds, microbacteria and algae.
The Byotrol product can be used as a standalone product or as
a complementary biocide additive to existing products to
improve their performance in personal hygiene, domestic and
industrial disinfection, odour control, food production and
food management.
Founded in 2005, the Company has prioritised the development
of a technology that creates easier, safer and cleaner lives
through partnering with providers of essential goods and
services. Byotrol is the catalyst behind the aptly named
global 'Hygiene Revolution'.
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