Kiotech has declared a profit-before-tax increase of 12 per cent to £553,836, and sales reached a total of £5.428 million (up from £5.353 million in 2007)

Kiotech noted key operations that helped it achieve this success. These included: profit improvement achieved through action on raw material price increases in the agricultural division; sales of new gut acidifier product for pigs and poultry showing strong growth; Aquatice® received Defra risk assessment endorsement and Certificate of Manufacture; and Free Sale granted by DTI as a water additive and sales and margin improvement of Ultrabite preceding US launch of Rapala’s Trigger-X range of lures.

Richard Edwards, chief executive, said that he was greatly encouraged by the progress made during the year under review. "The current year has started very well and I am excited by the potential of our recent product and market developments in both the agriculture and aquaculture markets. The commencement of dividend payments is a measure of our confidence in the future prospects for the group.

"The Company has a strong balance sheet and significant cash resources with which to develop both the product and market opportunities. We continue to seek to acquire businesses, which fit strategically and will deliver value to shareholders," he added.