British company Kiotech International PLC, which supplies natural feed additives for agriculture and aquaculture, has announced its preliminary results for the fiscal year ending December 31, 2009. Kiotech significantly increased its sales and profits over 2008, thanks in part to 31% sakes growth at subsidiary Agil and to the acquisition of Optivite Group, whose results are included starting October 1, 2009.
Kiotech had a headline profit before tax of £1,409,105, which includes £675,417 of exceptional gain from disposal of the Ultrabite line. Its underlying profit before tax and share-based payments rose to £763,659 from £553,836 in 2008.
Sales advanced to £10,955,355, from £5,428,169 in 2008, and year-end cash balance increased to £5,014,820, from £1,867,592 in 2008. Kiotech had a 25% increase in the proposed final dividend to 0.05 pence per share, from 0.04 pence in 2008.
Operations highlights, besides sales growth at Agil and the acquisition of Optivite, included the first sales of Salkil gut acidifier achieved in Brazil, first sale of pHorce in China, and marketing approval for Aquatice for fin fish species in Thailand.
"This has been another very good year for the group,” said Richard Edwards, Kiotech chief executive. “Financially we are very sound with a strong cash position, which allows us to consider further acquisition opportunities, at the right price, to broaden our product and geographic spread and enhance shareholder value."