Byotrol PLC – Trading Update

Byotrol PLC – Trading Update

We have seen a very substantial increase in demand for the full range of our infection prevention and control technologies over the last seven weeks, following broad recognition of the COVID-19 outbreak in Europe.  Firm orders currently sit at £1.7m for deliveries to end of June, with many more orders still being processed. Historically our order book at this time of year has been around £0.35m

We have been working very hard with our contract manufacturers to increase availability of our products and satisfy the exceptional demand.  These manufacturers have themselves all been dealing with supply chain constraints, initially and especially in packaging materials (most of which originate in China), and increasingly now in commodity chemicals as the crisis accelerates.

Byotrol’s results to 31 March 2020 are now expected to exceed the guidance given at the time of our interim results, where we confirmed our expectations of positive EBITDA for the full year.  The exact outturn will depend on the extent to which we can complete orders before the cut-off on 31 March.

We will update the market in more detail after year end, together with further commentary on the order book for the first quarter in the new financial year, which at present is looking substantial and continues to grow.

We are also focussing on delivering longer-term supply contracts and licenses, such as the deal announced with Tristel plc this morning, which is an excellent opportunity for the Company. The outlook for financial year 31 March 2021 is already looking encouraging.

Change of auditors

We are pleased to announce that we have appointed Crowe LLP (“Crowe”) as our new auditor with immediate effect. Crowe will audit the Company’s full year results for the year ending 31 March 2020.

Crowe replaces Mazars LLP.

David Traynor, Chief Executive of Byotrol, said:

“The Byotrol team is working very hard with customers and suppliers to meet the huge demand for our excellent infection control products.  We are currently selling everything we can make, and are investigating every opportunity to increase capacity further.

We believe that infection prevention and control technologies are set to become ever more important in today’s world, even after COVID-19 is brought under control.”

We have seen a very substantial increase in demand for the full range of our infection prevention and control technologies over the last seven weeks, following broad recognition of the COVID-19 outbreak in Europe.  Firm orders currently sit at £1.7m for deliveries to end of June, with many more orders still being processed. Historically our order book at this time of year has been around £0.35m

We have been working very hard with our contract manufacturers to increase availability of our products and satisfy the exceptional demand.  These manufacturers have themselves all been dealing with supply chain constraints, initially and especially in packaging materials (most of which originate in China), and increasingly now in commodity chemicals as the crisis accelerates.

Byotrol’s results to 31 March 2020 are now expected to exceed the guidance given at the time of our interim results, where we confirmed our expectations of positive EBITDA for the full year.  The exact outturn will depend on the extent to which we can complete orders before the cut-off on 31 March.

We will update the market in more detail after year end, together with further commentary on the order book for the first quarter in the new financial year, which at present is looking substantial and continues to grow.

We are also focussing on delivering longer-term supply contracts and licenses, such as the deal announced with Tristel plc this morning, which is an excellent opportunity for the Company. The outlook for financial year 31 March 2021 is already looking encouraging.

Change of auditors

We are pleased to announce that we have appointed Crowe LLP (“Crowe”) as our new auditor with immediate effect. Crowe will audit the Company’s full year results for the year ending 31 March 2020.

Crowe replaces Mazars LLP.

David Traynor, Chief Executive of Byotrol, said:

“The Byotrol team is working very hard with customers and suppliers to meet the huge demand for our excellent infection control products.  We are currently selling everything we can make, and are investigating every opportunity to increase capacity further.

We believe that infection prevention and control technologies are set to become ever more important in today’s world, even after COVID-19 is brought under control.”

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