TIDMSYM
RNS Number : 8816A
Symphony Environmental Tech. PLC
04 January 2018
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain
4 January 2018
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony", the "Company" or the "Group")
Trading Update
Symphony Environmental Technologies Plc (AIM: SYM), a global
specialist in products and technologies to "make plastic smarter",
is pleased to provide a trading update following the update made on
27 October 2017 and the end of the financial year.
The Board expect revenues for the year to 31 December 2017 to be
approximately GBP8.2 million (2016: GBP6.8 million) which is
marginally above market expectations. Due to the operational
gearing of the Group, the Board expects that profit before tax will
be significantly higher than current market expectations, and not
less than GBP400,000 for the full year (2016: GBP123,000).
The Group had net cash in the bank of GBP621,000 as at 31
December 2017 (31 December 2016: net borrowings of GBP371,000).
Michael Laurier, Chief Executive commented "We are pleased with
the continuing progress the Group has made during 2017 where it has
achieved growth in profitability and strong cash generation and
look forward to 2018 with optimism."
For further information, contact:
Contacts
Symphony Environmental Technologies
Plc
Michael Laurier, CEO Tel: +44 (0)
20 8207 5900
Ian Bristow, FD
Cantor Fitzgerald Europe
David Foreman / Callum Butterfield Tel: +44 (0)
(Corporate Finance) 20 7894 7000
Alex Pollen (Sales)
NOTES TO EDITORS:
About Symphony Environmental Technologies plc
Symphony has developed and continues to develop, controlled-life
plastic technology which helps tackle the problem of microplastics
by turning ordinary plastic at the end of its service-life into
biodegradable materials. It is then no longer a plastic and can be
bioassimilated in the open environment in the same way as a leaf.
The technology is branded d(2) w(R) and appears as a droplet logo
on many thousands of tonnes of plastic packaging and other plastic
products around the world. In some countries oxo-biodegradable
plastic is mandatory. For a video of d2w(R) plastic degrading see
https://www.youtube.com/watch?v=tQ7ce532BBM
In addition, Symphony has developed a range of additives,
concentrates and master-batches marketed under its d2p(R) brand,
which can be incorporated in a wide variety of plastic and
non-plastic products so as to give them protection against many
different types of bacteria, fungi, algae, moulds, insects and
fire.
Symphony has also developed the d(2) Detector(R), a portable
device which analyses plastics and detects counterfeit products.
This will be useful to government officials tasked with enforcing
legislation. Symphony's d(2) t tagging and tracer technology is
also available for further security.
Symphony has a diverse and growing customer-base and has
established itself as an international business with 74
distributors around the world. Products made with Symphony's
plastic technologies are now available in nearly 100 countries and
in many different product applications. Symphony is accredited to
ISO9001 and ISO14001.
Symphony is a member of The Oxo-biodegradable Plastics
Association (www.biodeg.org) (OPA), the Society for the Chemical
Industry (UK), and the Pacific Basin Environmental Council.
Symphony actively participates in the Committee work of the British
Standards Institute (BSI), the American Standards Organisation
(ASTM), the European Standards Organisation (CEN), and the
International Standards Organisation (ISO).
Further information on the Symphony Group can be found at
www.symphonyenvironmental.com.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "will" or the negative of those, variations or
comparable expressions, including references to assumptions. These
forward looking statements are not based on historical facts but
rather on the Directors' current expectations and assumptions
regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the
amount, nature and sources of funding thereof), competitive
advantages, business prospects and opportunities. Such forward
looking statements re ect the Directors' current beliefs and
assumptions and are based on information currently available to the
Directors.
A number of factors could cause actual results to differ
materially from the results discussed in the forward looking
statements including risks associated with vulnerability to general
economic and business conditions, competition, environmental and
other regulatory changes, actions by governmental authorities, the
availability of capital markets, reliance on key personnel,
uninsured and underinsured losses and other factors, many of which
are beyond the control of the Company. Although any forward looking
statements contained in this announcement are based upon what the
Directors believe to be reasonable assumptions, the Company cannot
assure investors that actual results will be consistent with such
forward looking statements. Accordingly, readers are cautioned not
to place undue reliance on forward looking statements. Subject to
any continuing obligations under applicable law or any relevant AIM
Rule requirements, in providing this information the Company does
not undertake any obligation to publicly update or revise any of
the forward looking statements or to advise of any change in
events, conditions or circumstances on which any such statement is
based.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTLLFVSLEIVIIT
(END) Dow Jones Newswires
January 04, 2018 02:00 ET (07:00 GMT)
Symphony Environmental T... (LSE:SYM)
Historical Stock Chart
From Apr 2024 to May 2024
Symphony Environmental T... (LSE:SYM)
Historical Stock Chart
From May 2023 to May 2024