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.
Agriculture
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.
Aquaculture
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.
Related website:
Kiotechagil
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