Biome Technologies Pre-Close Announcement Tuesday, 26th January 2016
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.