Kiotech International
Kiotech is a biotechnology company working in partnership with the UK Government agency Cefas (Centre for Environment, Fisheries & Aquaculture Science).
The partnership has developed pheromone technology, which is used in the sports fishing industry under the trade mark Ultrabite, and which the Directors believe can improve both the production and sustainability of worldwide commercial fishing and fish farming markets.
The Kiotechagil division supplies high-performance natural feed additives to enhance health, efficiency and sustainability in aquaculture and agriculture.
Kiotech International sees full year performance in line as Optitive integration remains on track
Kiotech International (AIM: KIO) said it has performed in line with market expectations and expects to report a very successful 2009 full year, achieving significant trading growth at its Kiotechagil division, while the recently acquired animal nutrition and additives business Optivite contributed to the profits in the final quarter.
The feed additives supplier will release its results for the year to 31 December in mid April 2010.
Integration of Optitive group remains on track as Kiotech's finance, administration and head office functions were amalgamated into Optivite's head office at the start of this year. Optitive’s feed additive production plant has already produced the first Kiotechagil customer order earlier this month, which the company said was the first step in consolidating production and purchasing. It completed the acquisition of Optivite in September 2009. The business is one of the largest independent animal nutrition and feed additive businesses in the UK,
Kiotech has also made an exceptional profit generated from the sale of its interest in its intellectual property specific to the sports fishing market, adding that it was committed to the further commercial development of Aquatice in the global aquaculture market.
Cash balances stood at £5 million at the end of the year with no debt.
Kiotech posted pre-tax profit of £277,725 from £174,139 a year earlier, while sales climbed to £3.47 million from £2.69 million in the first half as sales Chile, Finland, Mexico and Vietnam improved.
Shares in the company were trading up 3.5% on the news in afternoon deals.
The biotechnology company specialises in animal feed and pheromone products to the farming, commercial fishing and aquaculture markets. Through its partnership the the UK government’s Centre for Environment, Fisheries & Aquaculture Science (CEFAS), it developed pheromones being used in the sports fishing industry under the Ultrabite brand.
It sold the brand in December 2009 to Rappala VMC Corp for €900,000, in line with its strategy of supplying feed additives and nutritional products to the intensively farmed meat and fish protein industries where it expects global population growth and increased wealth in developing countries to drive demand for meat and fish.
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Other Kiotech International news
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27/01/10 Kiotech finance director buys 150,000 shares in company
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13/08/09 Kiotech first half profits and sales soar, makes strong start to second half
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16/03/09 Kiotech receives Defra approval for aquaculture feed products
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