News
Interim Results
26 September 2007
TyraTech (AIM:TYR), the pioneer of safer, effective and natural pesticide products, today announces its maiden Interim Results for the six months ended 30 June 2007.
Highlights
- Revenue for the six months ended 30 June 2007 was US$333 thousand (same period in 2006 US$104 thousand);
- Operating loss for the six months ended 30 June 2007 was US$8.1 million (same period in 2006 US$2.6 million);
- Completion of the initial public offering in June 2007, raising gross proceeds of £25 million (US$49.6 million);
- Successful achievement of Syngenta partnership milestone for the development of the lead product for the professional pest control operator market; and
- Continued strengthening of the management team with the appointment of Steven Briggs (VP Global Markets)
Commenting on the results Douglas Armstrong PhD, Chief Executive Officer of TyraTech, said: “The Company has achieved significant milestones during the first half of this year. We have made our debut on to the equity capital markets, having successfully raised £25 million as we joined AIM. We have also received a small milestone payment from one of our significant global commercial partners, Syngenta, for the development of products within the professional pest control market. Now we are accelerating our operations and look to bring our first natural yet effective alternative in the international pesticides sector, which has traditionally been dominated by synthetic chemicals, to market in the forthcoming months.”
For further information
| TyraTech Inc. Alan Reade, Executive Chairman www.tyratech.com |
1 (321) 409 - 7720 |
| Nomura Code Securities | |
| Charles Walker | Tel: +44 (0) 20 7776 1200 |
| www.nomuracode.com | |
| Jefferies International Limited | |
| Jack Pryde | Tel: +44 (0) 20 7618 3500 |
| www.jefferies.com |
Media enquiries:
Abchurch |
|
| Heather Salmond | Tel: +44 (0) 20 7398 7700 |
| heather.salmond@abchurch-group.com | |
| Gareth Mead | |
| gareth.mead@abchurch-group.com | |
| Stephanie Cuthbert | |
| stephanie.cuthbert@abchurch-group.com | www.abchurch-group.com |
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