Pre-tax profits and share-based payments were 494,191 compared with a loss of 287,268 seen in 2006. Sales represented 5,352,224, and reflected the first twelve months trading contribution from the Agil-based portfolio.
The integration of Agil business is now complete and this has benefitted profitability and a raft of new products are undergoing farm trials and showing promising results, says the company.
"Product and sales development in Agil, combined with exciting developments in establishing our aquaculture range, offer the Company a significant number of profit opportunities which the team is working hard to capitalise on, he added.
In his end of year statement he said that Kiotechagil's encouraging performance reflects good progress in the divisions supplying high-performance natural feed additives to enhance health, growth and sustainability in aquaculture and agriculture. Agil's has a firm focus on increasing profitability through better supply, tighter cost control and raising management quality and efficiency. A new management structure was introduced in the second half of the year to place more emphasis on new product development and more effective management of our distributor network.
"We have changed distributors in a number of territories and appointed distributors in new territories where registration of our products is currently underway," he said.
The company reorganised its sales structure in the UK and Ireland we where there are good opportunities for an enlarged technical sales support team. The stronger account management process, implemented in the first half of the year, will gain a better understanding of distributors requirements worldwide and the individual characteristics of their diverse local markets.
Kiotechs initial targets for product registration and sales are to the major producers of farmed fish in the Asia Pacific region, namely China, Thailand and Vietnam.
New agreements
Vietnam is the third largest aquaculture producer accounting for 2.6 per cent of total world production and is one of the fastest growing producers. Kiotech has signed an agreement to work with Bayer HealthCare, which is carrying out a series of Aquatice trials in that country under the direction of Cefas which, if successful, will lead to both companies signing a distribution agreement for the Vietnamese aquaculture market. In Thailand, which accounts for 2.5 per cent of world aquaculture production, the company has appointed a local aquaculture specialist to manage our trials programme and product registration, and also assist Kiotech with the selection of suitable distributors. Early discussions are underway with a potential distributor.
Apart from offering improvements in growth rate and feed conversion, Aquatice has been shown to improve water quality and aidlife-cycle bottlenecks such as survival rate during first feeding, weaning and when transferring from the hatchery to the pond. These environmental safety aspects are vitally important to government bodies wishing to ensure their aquaculture products are both safe for consumption and export and that intensive fish farming is sustainable in the surrounding environment, says Kiotech.
The company also reports increased demand for Mastercube its animal feed pellet binder. As feed producers switch to lower quality grains to counter rising prices this has adversely affected pellet quality. Mastercube counters this quality issue and through its chemical binding attributes helps lower the amount of energy consumed in pellet production.
The integration of Agil business is now complete and this has benefitted profitability and a raft of new products are undergoing farm trials and showing promising results, says the company.
Well placed
Richard Rose, Chairman of Kiotech said that the Company has a strong balance sheet, significant resources and is well placed to finance major product and market development programmes."Product and sales development in Agil, combined with exciting developments in establishing our aquaculture range, offer the Company a significant number of profit opportunities which the team is working hard to capitalise on, he added.
In his end of year statement he said that Kiotechagil's encouraging performance reflects good progress in the divisions supplying high-performance natural feed additives to enhance health, growth and sustainability in aquaculture and agriculture. Agil's has a firm focus on increasing profitability through better supply, tighter cost control and raising management quality and efficiency. A new management structure was introduced in the second half of the year to place more emphasis on new product development and more effective management of our distributor network.
"We have changed distributors in a number of territories and appointed distributors in new territories where registration of our products is currently underway," he said.
The company reorganised its sales structure in the UK and Ireland we where there are good opportunities for an enlarged technical sales support team. The stronger account management process, implemented in the first half of the year, will gain a better understanding of distributors requirements worldwide and the individual characteristics of their diverse local markets.
Aquaculture Success
Approval has been granted by Department of Environment, Food and Rural Affairs (DEFRA) for sale of aquaculture products (Aquatice) in the European Union. The nutritional attractant product continues to prove its efficacy in new trials in the Far East and the DEFRA Certificate should significantly accelerate the registration process in other countries. There are high hopes for the Asian and Latin America markets, which account for around 80 per cent of global aquaculture production.Kiotechs initial targets for product registration and sales are to the major producers of farmed fish in the Asia Pacific region, namely China, Thailand and Vietnam.
New agreements
Vietnam is the third largest aquaculture producer accounting for 2.6 per cent of total world production and is one of the fastest growing producers. Kiotech has signed an agreement to work with Bayer HealthCare, which is carrying out a series of Aquatice trials in that country under the direction of Cefas which, if successful, will lead to both companies signing a distribution agreement for the Vietnamese aquaculture market. In Thailand, which accounts for 2.5 per cent of world aquaculture production, the company has appointed a local aquaculture specialist to manage our trials programme and product registration, and also assist Kiotech with the selection of suitable distributors. Early discussions are underway with a potential distributor.
Apart from offering improvements in growth rate and feed conversion, Aquatice has been shown to improve water quality and aidlife-cycle bottlenecks such as survival rate during first feeding, weaning and when transferring from the hatchery to the pond. These environmental safety aspects are vitally important to government bodies wishing to ensure their aquaculture products are both safe for consumption and export and that intensive fish farming is sustainable in the surrounding environment, says Kiotech.
Livestock Developments
Agil's technical team has developed a new premix acidifier targeted at the early growth stage for pigs and poultry. The development has opened a new market segment for the company and early indications have been encouraging with improvements in feed conversion and the health of the animals.The company also reports increased demand for Mastercube its animal feed pellet binder. As feed producers switch to lower quality grains to counter rising prices this has adversely affected pellet quality. Mastercube counters this quality issue and through its chemical binding attributes helps lower the amount of energy consumed in pellet production.
