Biome Technologies PLC Trading Update (1716V)
01 November 2017 - 6:00PM
UK Regulatory
TIDMBIOM
RNS Number : 1716V
Biome Technologies PLC
01 November 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR")
1 November 2017
Biome Technologies plc
("Biome", "the Company" or "the Group")
Biome Technologies plc, a leading bioplastics and radio
frequency technology business, today publishes a trading update for
the nine months ended 30 September 2017.
Total Group revenues achieved in Q3 were GBP1.5m (2016:
GBP0.9m). This takes Group revenues for the nine months to 30
September 2017 to GBP4.5m, a 46% increase compared to the same
period last year (2016: GBP3.1m) and close to the full year 2016
level of GBP4.6m.
The Group made a small profit before interest, tax,
depreciation, amortisation, and share option charges for Q3 2017,
making this the fourth consecutive quarter of EBITDA profitability
(based on unaudited management accounts).
The Group's cash position as at 30 September 2017 was GBP2.4m
(30 June 2017: GBP1.9m), reflecting trading activity and receipt of
deposits within the Stanelco RF division.
Bioplastics Division
Revenues in the Bioplastics division in Q3 were GBP0.5m (Q3
2016: GBP0.4m), resulting in revenues in the first nine months of
the financial year being GBP1.7m (2016: GBP0.9m). The revenues for
the year to date have already exceeded the 2016 full year revenues
of GBP1.6m.
This growth in revenue is a result of continued demand for the
commercialised outer packaging, lid material and non-woven filter
mesh for the US coffee pod market.
Stanelco RF Technologies Division
Revenues in the RF Technologies division in Q3 were GBP1.1m (Q3
2016: GBP0.7m), resulting in revenues in the first nine months of
the financial year being GBP2.8m (2016: GBP2.2m). Good revenue
levels were supported by the build and delivery of several fibre
optic furnaces.
The order book and enquiry pipeline have continued to build with
a particular focus on demand from Asia. This gives confidence for a
strong outlook for this division for the remainder of the year and
into the middle of 2018.
Outlook
The Group has continued its progress in the first half of the
year into Q3 and the Board expects this momentum to continue for
the remainder of the year.
- Ends -
For further information please contact: Biome
Technologies plc
Paul Mines, Chief Executive Officer
Declan Brown, Group Finance Director
www.biometechnologiesplc.com Tel: +44 (0) 2380 867
100
Allenby Capital
David Hart (Nominated Adviser)
Chris Crawford/Kelly Gardiner (Broker)
www.allenbycapital.com Tel: +44 (0) 20 3328
5656
This information is provided by RNS
The company news service from the London Stock Exchange
END
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