Pre-close Trading Statement

RNS Number : 9424M
Biome Technologies PLC
26 January 2016
 

26 January 2016

 

Biome Technologies plc

("Biome" or "the Group")

 

 

Pre-close Trading Statement

 

 

Biome Technologies plc's pre-close trading statement for the financial year ended 31 December 2015 is set out below.

 

Group revenues for the year reached £4.9m, a 37% increase on the revenues of £3.6m reported for 2014.

 

The Group made a small profit before interest, tax, depreciation, amortisation, and incentive scheme charges in the second half of 2015 (based on unaudited management accounts). This builds on the achievement of meeting this long term strategic KPI on a similar basis for the first time in the third quarter of 2015.

 

Revenues in the Bioplastics division reached £1.9m, an increase of 29% on the 2014 revenue of £1.4m. A new temperature resistant material is now in its commercialisation phase and is providing an additional revenue stream.

 

The RF division finished the year strongly and achieved full year revenues of £3.0m, a 42% increase on the 2014 revenue of £2.1m. This revenue growth was achieved across a broader spread of equipment types than in previous years. A robust order book for the first half of 2016, including the previously announced delivery of the advanced analytical equipment to a regulated industry, is in place.

 

The Group's cash position at 31 December 2015 was £1.6m (30 September 2015: £1.7m).

 

Consequently, the Board expects the financial performance for the full year of 2015 to be above the market's current expectations. Trading in 2016 has started in an encouraging manner.

 

The preliminary results for the year ended 31 December 2015 are scheduled to be published on 30 March 2016.

 

-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 (Nomad)

Chris Crawford/Kelly Gardiner (Broker)


www.allenbycapital.com

Tel: +44 (0) 20 3002 2070

FTI Consulting


Oliver Winters

www.fticonsulting.com

Tel: +44 (0) 20 3727 1535

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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