REG - Byotrol PLC - Trading Update

ByotrolAnnouncement

14/11/2023 07:00

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RNS Number : 2919T  Byotrol PLC  14 November 2023

 

 

 

 

Byotrol Plc

 

("Byotrol" or the "Company")

 

Trading Update

 

 

Byotrol Plc (AIM:BYOT), the specialist infection prevention and control
company expects to release its unaudited Interim Results for the six months to
30 September 2023 in early December.  Having further reviewed the outlook
post the CEO's departure we now expect to report:

 

·    Product Sales of £2m, which is flat versus the comparable period and
reflects the impact of discontinued items (due to expected regulatory changes
and to reduce complexity).

·    An anticipated EBITDA loss of £0.45m, versus a loss of £0.3m to 30
September 2022.

·    Cash in bank of £0.5m.

 

In the full year to 31 March 2023, we reported sales of £0.65m on
now-discontinued lines, so complicating headline comparisons on relative
performance. The detail in our Interim Results will therefore show:

 

·    Underlying Gross Margin (which excludes disposal costs for obsolete
or discontinued stock) of 44.5%, versus 42.6% for the full year to 31 March
2023.

·    Continued encouraging performance of Byotrol's animal health business
in the UK, now accounting for 65.0% of product sales, from 47.5% at the end of
FY23.  Relatively disappointing product sales however in human healthcare,
and in export generally.

·    Further improvements in operating systems and processes, with no
change in costs despite significant inflationary pressures.

 

Based on the above trends we are now expecting to report product sales in the
full year to 31 March 2024 of approximately £3.9m, which shows modest growth
on £3.7m in the previous year on a like-for-like basis (excluding
discontinued items).   Including discontinued items, prior year product
sales were £4.3m.

 

Projected returns from our IP commercialisation activities remain as per the
update announced on 7 September 2023 and continue to show encouraging progress
but highly unpredictable timings and returns.

 

Our cash position remains tight, but is sufficient to finance current
operations, assuming some non-core cost cutting, some reduction in investment,
and expected and (in some cases accelerated) receipts of cash from
(already-contracted) IP transactions.

 

 

For further information contact:

 

 Byotrol Plc
 Dr Trevor Francis, Non- Executive Chairman                                           +44 (0)1925 742 000
 David Traynor, Interim Chief Executive Officer

 Chris Sedwell, Chief Financial Officer

 Cavendish Capital Markets Ltd (Nominated Adviser and Broker)                         +44 (0)20 7220 0500
 Geoff Nash/George Dollemore - Corporate Finance

 Nigel Birks/Harriet Ward - ECM

 Flagstaff Strategic and Investor Communications                                      +44 (0)20 7129 1474
 Tim Thompson/Andrea Seymour/Fergus Mellon                                            byotrol@flagstaffcomms.com (mailto: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.

 

Notes to editors

 

Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection prevention and
control company, operating globally in the animal and human healthare,
industrial, institutional and consumer sectors, providing low toxicity
products with a broad-based and targeted efficacy across all microbial
classes; bacteria, viruses (including coronavirus), 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, go to byotrol.com

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