Level 2

Kiotech keen on more deals

Date: Tuesday 12 Apr 2011

Kiotech, the developer of technology that mimics chemical signals secreted or released by organisms, said the benefits of its September 2009 acquisition of Optivite are feeding through earlier than anticipated.

The company saw revenue more than double in 2010 to £21.57m from £10.96m in 2009, while profit before tax edged up to £1.52m from £1.41m.

The cash balance at the end of 2010 had fallen to £3.5m from £5.0m at the end of 2009.

The final dividend has been hiked to 2p from 1.15p in 2009. The company does not pay interim dividends.

“The success of the Optivite deal gives us the confidence to pursue similar opportunities in addition to developing and promoting our existing trading brands in global markets,” said Richard Rose, chairman of Kiotech.



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