Company update: Kiotech International
Kiotech International plc, supplier of natural feed additives announced significantly increased sales and profit in its preliminary results for the year ended 31 December 2010.
Sales nearly doubled to £21.565m (2009 £10.955m) boosted by a maiden full year contribution from Optivite coupled with organic growth (2009: 3 months contribution).
During the year the group largely completed the integration of the Optivite Group, whose results are included for the full year.
Total underlying profit before tax and exceptional items more than doubled to £1.877 million (2009: £0.764 million) with profit before tax of £1.517 million (2009: £1.409 million) includes exceptional costs of £0.261 million relating to the restructuring of the group.
The production of feed additive products has now been consolidated at Manton Wood. This plant has almost trebled its production throughput.
With the closing of the North Scarle site the group now operates from two production sites: Manton Wood for the functional feed additive business and Boroughbridge, in North Yorkshire, where the Vitrition, organic feed business is located.
The group has made a solid start to the year, with further sales growth in the international division.
Management’s focus is to capture the cross-selling opportunities between the Optivite and Kiotechagil brands as well as the launch of a number of new product ideas across the group.
Territory expansion initiatives will concentrate on China and Brazil which between them account for over 40% of world pig and poultry meat production.
The group is continuing a search to identify suitable acquisitions, at the right price, which offer both strategic and commercial benefits to the group.
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