Trading Statement

RNS Number : 3714V

Symphony Environmental Tech. PLC

30 January 2017

 

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 inside information is now considered to be in the public domain.

30 January 2017

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

("Symphony", or the "Company")

Trading Update

Symphony Environmental Technologies Plc (AIM: SYM); global specialists in 'making plastic smarter', with d2w controlled-life, d2p anti-bacterial and d2t anti-counterfeiting technologies, today announces a trading update in respect to the year ended 31 December 2016.

Unaudited revenues for the year ended 31 December 2016 were £6.80 million exceeding both prior year and market expectations. This increase in revenue, together with the benefits of the cost reduction programme delivering savings in line with expectations means profit before tax for the year is expected to be slightly ahead of market expectations and a considerable improvement on the 2015 loss before tax of £2.30 million.

Contacts

Symphony Environmental Technologies Plc
Michael Laurier, CEO	Tel: [phone]
Ian Bristow, FD
Cantor Fitzgerald Europe
David Foreman / Michael Reynolds (Corporate Finance)	Tel: [phone]
David Banks (Sales)

NOTES TO EDITORS:

About Symphony Environmental Technologies plc

Symphony has developed a range of additives, concentrates and master-batches marketed as d₂p, which can be incorporated in a wide variety of plastic and non-plastic products and applications, so as to give them protection against many different types of bacteria, fungi, algae, moulds, insects and fire.

In addition, Symphony has already developed and continues to develop, controlled-life plastic technology which turns 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 d₂w® 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® plastic degrading see http://degradable.net/play-videos/4.

Symphony has also developed the d₂Detector®, a portable device which analyses plastics and detects counterfeit products.  Symphony's d₂t tagging and tracer technology is also available for further security. See www.d2t.net

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 97countries and in many different product applications. Symphony is certified 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.

 

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