August 14, 2009
 
Kiotech H1 sales up 29 percent
 
Press Release

 

 

Kiotech International plc, the supplier of natural high performance feed additives, announced that sales for the first half of 2009 increased 29 percent to GBP3.467 million.

 

Profit before interest and tax reached GBP277,725, compared to GBP174,139 a year ago. The balance sheet remains healthy with a cash balance of GBP1.78 million, up from GBP1.39 million a year ago.

 

Sales in more than two-thirds of overseas markets increased with Latin American markets, led by Bolivia, Chile and Mexico, being particularly strong. Recently appointed distributors in Egypt, Ukraine and Vietnam have contributed to growth, while salmonella issues in Finland increased the demand for Salkil.  Product registration is also underway in a number of other countries including Brazil.

 

In China, customer trials for a number of agricultural products are being conducted. China is the world's largest producer and consumer of pig and poultry meat with a combined total of 58 million tonnes annually, accounting for 34 percent by weight of world production.

 

New product development continues, encouraged by the success of new gut acidifier pHorce, which already accounts for over four percent of total Group sales. pHorce is targeted at the faster growing animals in the pig and poultry industry where the high strength acid blend works quickly to eliminate enteropathogens such as salmonella.

 

A head of aquaculture has been appointed and with responsibility to drive sales and marketing efforts including the appointment of distributors and then working with them to achieve the first commercial sales. 

 

Discussions have taken place with feed mills and farmers in China and customer trials have started at the Pingsha Tilapia farming base in Zhuhai. A similar approach will be taken in other countries in the region including Indonesia, Thailand and Vietnam.

 

Kiotech chief executive Richard Edwards said the company is continuing the search for suitable acquisitions, at the right price, which will offer strategic and commercial benefits.

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