News last update:6 Aug 2012

Kiotech International presents 2007 results

Kiotech International plc presented its 2007 annual results. The company has achieved its first profitable full year result since becoming a public company in 1997. These results include a maiden twelve months contribution from Agil, which was purchased in November 2006.

Trading for the twelve months to 31 December 2007 saw sales of £5,352,224; compared with £421,636 in the equivalent period last year.  The significant increase in sales and profitability was driven by the maiden full year contribution from Agil. 

Agil performed well improving margins in a very competitive market where the weakness of the US dollar and raw material price increases were significant burdens. Cash generation was strong, the year ended with a positive cash balance of over £1.6 million. This was due to a combination of working capital improvements and the cash generative quality of the Agil business. 

Agil's technical team has developed a new acidifier product targeted at the early growth stage for pigs and poultry, which for the first time can also be incorporated into premixes.  This development opens a new market segment for Agil.  Agil also has experienced an increase in demand for Mastercube its animal feed pellet binder. 

Kiotech continues to make good progress with its aquaculture development programme, of which the granting by DEFRA of the Manufacture and Free Sale Certificate for Aquatice® is a very important step in the commercialisation of the product. 

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