Biome Technologies plc, a leading bioplastics and radio frequency technology business, today publishes a trading update for the six months ended 30 June 2018. The unaudited interim results are expected to be announced on 3 September 2018.
Total Group revenues for the first half of the year were £4.3m, a 43% increase compared to the same period last year (2017: £3.0m).
The Directors expect that the Group will report an increased profit before interest, tax, and amortisation for the half year compared to the first half of 2017, reflecting the increase in revenues (based on unaudited management accounts).
The Group’s cash position as at 30 June 2018 was £2.3m (31 December 2017: £2.3m, 31 March 2018 £2.4m), reflecting a combination of positive trading activity, balanced by the unwinding of advance customer deposits previously received by the Company.
The full RNS can be viewed here.