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December 12, 2007 |
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BOTRY-ZEN: Books NZ$544,045 Deficit in Half-Year Ended Sept. 30 Botry-Zen Ltd has reported an operating deficit for the six months ended Sept. 30, 2007, of NZ$544,045, Chairman Max Shepherd said in an interim report filed with the New Zealand Stock Exchange. The figure compares favorably with both the forecast deficit for the period, NZ$714,872, and the deficit for the corresponding six months last year, NZ$700,176. The chairman believes the company's historically strong focus on managing operating expenditure was maintained throughout the period. “Through our own focused marketing efforts, and with the NZ Wine industry continuing to further embrace the benefits of their 'sustainability programme', the country's grape growers have moved in recent months to place firm BOTRY-Zen orders for the approaching local season,” Dr. Shepherd stated. “It is likely that with the level of orders in hand we will successfully see the sell-through of all product manufactured.” The report pointed out that the company also made good progress on the product development of its second product, the late- season botryticide, ARMOUR-Zen. The benefits of presenting ARMOUR-Zen to grape growers, Dr. Shepherd said, is that they now have a natural product option for protecting the crop at the closing season full-berry stage. ARMOUR-Zen can be sprayed right up to harvest and this places it in a 'stand-alone niche' within the existing market. Also, having ARMOUR-Zen as an end- of-season product compliments BOTRY-Zen which essentially delivers proven material benefit through the early to mid-season growing periods. Pre-season ordering for BOTRY-Zen is, as mentioned, at record levels (the uptake in Marlborough has been particularly strong), and indicative demand for ARMOUR-Zen is robust across all regions. In addition to the grape-land opportunities, both products are being made available, where applicable, to kiwifruit, berryfruit and ornamental flower growers. The chairman further disclosed that the company has successfully secured formal registration for both BOTRY-Zen and ARMOUR-Zen in Germany and Austria and that it is now in the closing stages of concluding a marketing contract with a Rhineland-based distributor. Given the robust shelf-life benefits that we have been able to add to both key products, the significance of a northern hemisphere market entry represents an exciting new step for Botry-Zen Limited, the Chairman said. The Dunedin plant can now be operated on a full year-round production basis without the previously forced down-time in local off-season periods. German market demand for proven biological alternatives to chemical solutions is evident from the company's in-market evaluation work and it is our intention, through the coming months, to carefully prepare for a professional and timely launch of both products into Germany from May 2008. The chairman also said that, “Ideally we would like to have an expanded manufacturing platform available to us in order to present more product volume into the markets for which we now hold registration. However, for the time being, we will be paying close attention towards ensuring that we can maximize production levels from existing plant and equipment.” About Botry-Zen Headquartered in Dunedin, New Zealand, Botry-Zen Limited -- http://www.botryzen.co.nz/ -- is engaged in the research, development and commercialization of biological control agents for use in the agriculture and horticulture industry. The company operates in New Zealand, and is engaged in the production and marketing for sale of the BOTRY-Zen product. BOTRY-Zen is a live spore preparation of a non-pathogenic saprophytic fungus. The Troubled Company Reporter-Asia Pacific reported on June 7, 2007, that Botry-Zen incurred a net loss of NZ$1.67 million for the year ended March 31, 2007, up 6% from the NZ$1.58-million loss booked in the previous fiscal year. In FY2005, the company also reported a loss of NZ$757,746. |
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