Updated: 16:25 EDT, 20 July 2011>
Any small technology company’s dream is that one day one of its products or gizmos gets recognition from a peer or multi-national company.
Well, that’s what’s happened to Byotrol.
Shares of the Manchester-based hygiene technologies company rocketed to 16.3p before closing 6.5p or 81 per cent higher at 14.5p after revealing a potential multi-million contract to supply hand hygiene and surface sanitisation products to pest control services provider Rentokil Initial, 0.6p dearer at 90.775p.
On the up: Shares of Byotrol rocketed after revealing a potential multi-million contract to supply hand hygiene and surface sanitisation products to pest control services provider Rentokil Initial
Byotrol said the four-year contract covers a range of products that will be used in Rentokil Initial Hygiene Division’s – one of the largest business services companies in the world – washrooms and kitchens across 16 European countries.
The services will be rolled out in the fourth-quarter of 2011. Byotrol’s chief executive Gary Millar is obviously ecstatic about the contract which should be transformational for the AIM listed company.
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‘The endorsement of the Byotrol technology by the Initial Hygiene division of Rentokil is tremendously exciting and will transform the way Byotrol’s technology is recognised by the hygiene industry,’ he said.
Byotrol’s shares should easily retrace the 25p-plus level at which they last traded in August 2009 when swine flu led to an increase in inquiry levels for its sanitisation products, a residue which is coated on work surfaces to keep them clean from viruses and bacteria for around three months.
But the shares fell away along with the swine-flu virus. Vague rumours of a £972m or £6 a share cash bid from a hungry private equity player helped Domino’s Pizza climb 13.5p to 458.75p.
The takeaway food group reports interims on Monday and broker Peel Hunt forecasts a 13 per cent rise in pre-tax profits to £19.2m and earnings per share 10 per cent higher at 8.7p.
Continuing to reflect President Obama’s optimism that progress has made over US deficit cuts and the subsequent raising of the US debt ceiling, the Footsie jumped 63.83 points to 5,853.82.
London ignored an early 10 point fall on Wall Street after existing US home sales fell unexpectedly to a seven month low.
Banks featured at the top of the leaderboard with UK taxpayer-owned Lloyds Banking Group up a further 1.77p at 44.9175p and Royal Bank of Scotland 1.02p at 34.12p.
Bob Diamond’s Barclays closed 11p better at 222.575p. Record third-quarter results from Apple, US maker of iPhones and iPads, sparked heavy buying of those companies whose chips are used in Apple’s products.
ARM Holdings advanced 28.5p to 611.25p. Meanwhile, Imagination Technologies surged 38.6p to 418.75p after Numis upgraded to hold from reduce and raised its target price to £4 from 350p.
Software group Misys touched 416p and closed up 29.6p to 411.15p amid intense speculation that Fidelity National Information Services, a provider of banking and payment technology, is on the verge of tying up an agreed 450p a share cash offer.
Persistent selling left supermarket group J Sainsbury 2.9p cheaper at 313.05p.
Broker Shore Capital is cautious and says it has gone from market outperformer to underperformer in a reasonably converged food retail sector this year, despite opening more space than its peers in percentage terms.
Goldman Sachs added Rolls-Royce to its conviction buy list and the shares rose 13p to 648.75p.
The US broker has a 12 month target price of 850p and says the company is structurally well placed versus its peers.
Motive Television featured a gain of 0.045p or 14.5 per cent to 0.355p after announcing its development of technology that allows viewers to watch pre-recorded audio-visual material on their laptops, Apple iPads and other tablet and mobile devices.
The company said it allows viewers to transfer a recorded file from their set-top box to a second screen, or mobile device, to watch anytime, anywhere without the need for an internet signal.
Russia-focused oil and gas company Matra Petroleum shed 0.95p to 1.65p after reporting a leak at its operations in the Sokolovskoe Field.
Its well-12 was returned to production on July 2 and has averaged 352 barrels of oil per day since then, but a water cut of around 42 per cent meant that it averaged just net 203 barrels of oil per day.
Despite missing its first-half production forecast, Afren added 2.2p at 151.9p.
Broker Evolution reckons a ramp up in production, cash flow and exploration activity in the second- half represents a buying opportunity.
Urology company Plethora Solutions crashed 1.63p to 4.38p after warning that results for the full year are expected to be lower than current market expectations.
Source : http://www.thisismoney.co.uk/money/markets/article-2016968/MARKET-REPORT-GEOFF-FOSTER-Byotrol-thrilled-Rentokil-deal.html1055