Byotrol loss widens as products gain traction

Anti-microbial technology company Byotrol presented its unaudited interim results for the six months to 30 September on Tuesday, confirming it was on track to be EBITDA positive for the full year with trading in line with previous guidance.

The AIM-traded firm claimed to have made “excellent progress” in all three of its strategic initiatives, with all testing now completed for submission to US Environmental Protection Agency for approval of its long-lasting surface care product.

A formal dossier was to be filed before Christmas.

In its joint marketing partnership with Solvay SA, commercial and technical discussions were underway with customers, and its non-alcohol based hand sanitising formulations were making good progress in the UK - including in the NHS - in Japan and in the US.

Financial results for the year remained heavily skewed in favour of the second half, the board said, due to the timing of previously announced and contracted milestone and partnership payments.

Those, together with research and development tax credits, were expected to add in excess of £1.1m to revenues and gross margin in H2, it added.

Headline numbers for the six months to 30 September included turnover of £0.91m, against £1.41m in the comparable period last year, and a loss before tax of £0.58m versus £0.45m in the comparable period.

“The company is now on the way to become the high-quality technology business we have been aiming for,” said chief executive David Traynor.

“Development deals are providing strong cash inflows and results for the full year are expected to show substantial progress.”