Byotrol trading at 'healthy' levels as demand increases
Infection prevention and control technology company Byotrol said on Friday that trading remained at “healthy” levels across all business units and product sales.
The AIM-traded firm said demand for intellectual property licensing was robust, as it explored multiple new opportunities both in the UK and internationally.
Its net cash position was also described as “strong”, enabling it to maintain stock levels to fulfil customer demand or, where appropriate, re-invest for the growth of the business.
“We expect results for the year to 31 March to meet current market expectations, notwithstanding the recent news on the development of potential vaccines against Covid-19,” the board said in its statement, ahead of its annual general meeting.
“This is supported by industry trends clearly in evidence before, and now magnified by, Covid-19, all of which continue to favour Byotrol's long-term positioning.”
It said businesses and consumers were taking “increasingly proactive responsibility” for protecting individuals against infection risk from viruses and bacteria, so increasing global demand.
Competitors with weaker performance chemistries were also said to be withdrawing from Byotrol’s market in the UK and Europe as new regulations took hold, reducing the supply of competing products and multiplying opportunities for the company’s future growth.
“The directors remain highly confident in Byotrol's longer term outlook.”
At 1105 GMT, shares in Byotrol were up 2.72% at 6.34p.