Kiotech reports 157% profits increase for six months ending June 2010
Company sales grow threefold in same time period
Kiotech International plc has posted its interim results for the last six months ending June 2010.
The company reports a 157% increase in profit to £777,000 (up from last year's £302,000), as well as a threefold growth in sales to £11.082 million. "We are encouraged by our trading performance to date and remain confident going forward given the good progress in integrating the [September 2009] Optivite acquisition," said CEO Richard Edwards. Solid performance from Kiotech's international agriculture division also contributed to the company's positive numbers.
For the remainder of the year Kiotech plans to focus on generating organic growth, further integrating Optivite and developing new business opportunities, including territory expansion and product development.