By British infection prevention and control company, Byotrol, revealed on Thursday that it is experiencing slower growth in Europe and facing the impact of discontinuing some of its legacy products, which has caused its revenue to fall behind expectations. As a result, the company now anticipates reaching break-even in fiscal 2024, later than initially projected.
Earlier in July, Byotrol had expressed optimism that the year ending in March would see significant revenue growth and a return to profitability. However, the current circumstances have prompted the company to adjust its goals, with an aim to achieve substantial profitability in fiscal 2025.
Despite these challenges, Byotrol remains confident that it possesses sufficient cash resources to execute its current strategy effectively. In fiscal 2024, the company is targeting approximately £1 million ($1.3 million) in cash from intellectual property. To achieve this, Byotrol will prioritize its intellectual property efforts on generating cash instead of pursuing new multi-year agreements with minimum guaranteed royalties. This strategic shift is a response to the volatile market environment and the company’s commitment to continue investing in growth.
Byotrol is determined to keep costs flat compared with the previous fiscal year’s figure of £2.8 million. This disciplined approach aims to ensure financial stability amidst the current challenges faced by the company.
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