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Birmingham Post
Birmingham Post
Business
Jon Robinson

Revenue and profits rocket for hygiene group Byotrol after 'extraordinary' year

Revenue almost doubled at Cheshire hygiene group Byotrol and its pre-tax profits rocketed by more than 600% during its latest "extraordinary" financial year.

The Daresbury-based firm has reported a revenue of £11.2m for the 12 months to March 31, 2021, up from the £6m it achieved during the prior year.

The AIM-listed business has also posted profits of £1m, a rise from £170,000.

READ MORE: Cheshire cheese maker stands strong despite 'volatile' pandemic trading

The new figures come after the company said in April that its annual results were expected to be "substantially ahead" of the previous year following "exceptional demand" for its sanitising technologies due to the pandemic.

Chairman John Langlands said: "This past year was an extraordinary one by any standards, in our industry and in society in general.

"Byotrol's financial results to March 2021 were our best ever, boosted by demand for our products due to Covid-19, but we believe will continue to benefit from new post-pandemic approaches to infection prevention in institutional, business and consumer environments.

"We continue to see many opportunities on our markets and continually review how best to maximise returns from them. Your board remains optimistic for Byotrol's prospects."

A statement issued to AIM added: "The sanitiser market has experienced a period of unprecedented activity as a result of Covid-19, resulting in record financial performance for Byotrol.

"We believe the increase in anti-microbial awareness and mass-uptake of related products will continue long into the future.

"Management remains extremely positive on the medium to long-term outlook where the market is forecast to grow globally at 8 to 10% per year from pre-Covid levels and industry earnings growth is likely to exceed this as weaker competitors with inferior chemistries, and those that lack regulatory approval, fall away.

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"In the short-term, revenue from product sales in the new financial year to date has been hindered by closed venues from extended lockdowns, new competition, and an excess of inventory.

"However, the market does now appear to be stabilising and management now expect product sales for FY22 at a level some 10 to 20% below those for FY21: an exceptional year which was itself over 90% ahead of FY20."

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