Biome Technologies plc, a leading bioplastics and radio frequency technology business, today provides an unaudited pre-close trading update for the financial year ended 31 December 2020.
Group revenues for the year ended 31 December 2020 were broadly in line with market expectations at £5.7m (2019: £6.9m) following strong annual revenue growth of 65% in the Bioplastics division.
Cash balances at the year-end were £1.7m, following the net £1m equity fundraising announced in September 2020 (30 September 2020: £0.9m).
The Board anticipates that, subject to completion of the audit process, the Group will generate a loss before interest, taxation, depreciation, amortisation and share option charges for the year ended 31 December 2020, which will be in line with current market expectations.
The Group’s preliminary results for the year ended 31 December 2020 are scheduled to be published on 25 March 2021.
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