Company Update: Kiotech profits up 32%

19-09-2011 | |

Interim pre-tax profits at Kiotech International rose by 32% to £1.04m in the six months to the end of June.

The gross margin for Kiotech, a leader in the manufacturing and marketing of high performance natural feed additives for agricultural and aquaculture markets, rose from 26% a year ago to 31%.

Earnings per share rose 12% to 4.03p and the company had a cash balance of £3.44m at the end of June compared with £3.53m at the end of December.

Chairman Richard Rose said: "The group has delivered a strong performance in the first half of the year and this is continuing.

"The improvement in our gross margin reflects our focus on our higher value feed additive ranges and close attention to selling prices.

"The group is well positioned to continue its success in the second half of the year and is currently evaluating a number of acquisition opportunities, which could potentially meet our criteria for value creation.”

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