logo-loader

Double digit growth for TyraTech’s head lice products in 2016

Published: 02:05 10 Feb 2017 AEDT

woman treating her child with head lice treatment
TyraTech had expected the head lice market to slow towards the end of 2016, but it actually picked up

A market recovery in the US at the end of 2016 helped TyraTech, Inc.’s (LON:TYR; LON:TYRU) head lice brand, Vamousse, to post double-digit year-on-year growth in 2016.

The Vamousse brand – which is stocked by the likes of Walmart, CVS and Walgreens in the US and by Tesco, Boots and Sainsbury’s in the UK – also gained market share against its major competitors in both territories.

The growth comes against a difficult backdrop for the market as a whole in the US. Back in September, TyraTech said it expected Vamousse’s growth to slow in the second half due to a wider “deceleration” in the head lice treatment market in the US.

However, the market picked up again at the end of the year to finish almost flat in the US for 2016.

Despite the recovery, TyraTech kept a cautious eye on its costs just in case.

The North Carolina-based group said it still expects results to be in line with market expectations and its cash position to be in excess of US$1.7mln.

Aside from Vamousse, the company’s Guardian non-toxic mosquito and tick repellent is set for a trial run in Kroger stores – the largest grocery chain in the US – for the 2017 season.

TyraTech has also finalised the development of its OutSmart non-toxic insect repellent for horses, with an additional patent filing being made for the new formulation.

OutSmart was pre-launched by TyraTech’s partner SmartPak at the end of 2016 and the full launch is expected in the second quarter of this year.

The outlook for 2017 is positive as well. Even being “cautious” with its expectations, the firm is still confident that it can post double digit revenue growth in the coming 12 months as well.

Final results for the year ended 31 December 2016 will be announced before the end of April.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

10 hours, 13 minutes ago