September 20, 2011
 

Kiotech's profit rises by 32%

Kiotech International's interim pre-tax profit rose by 32% to GBP1.04 million (US$1.63 milion) in the six months to the end of June, 2011.

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% and the company had a cash balance of GBP3.44 million (US$5.4 million) at the end of June compared with GBP3.53 million (US$5.53 million) at the end of December.

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

"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."