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on August 13, 2009

Kiotech posts higher sales, profits

Company credits performance to agriculture division success in overseas markets.

Kiotech International, the U.K.-based supplier of natural feed additives to the agriculture and aquaculture industries, reported a 29% rise in sales to GBP3,467,706 (US$5,762,223) in the first half of 2009 compared with GBP2,688,387 (US$4,467,243) during the same period last year, according to a news report.

The rise in sales was attributed to the firm's agriculture division delivering a strong performance in overseas markets, led by Bolivia, Chile and Mexico.

The firm's first-half profit before interest and tax reached GBP277,725 (US$461,491) compared with GBP174,139 (US$289,364) last year. Cash balance at the firm stood at GBP1.78 million (US$2.96 million) as against GBP1.39 million (US$2.31 million) last year.

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