News

Highlights

• Group revenues in H1 2018 increased by 47% to £4.4m compared with the comparable period last year (H1 2017: £3.0m)
• Biome generated an operating profit of £0.2m compared to an operating loss of £0.2m in the first half of 2017
• Group cash position at 30 June 2018 of £2.3m (31 December 2017: £2.3m)

Paul Mines, Chief Executive Officer said:

“The Group had an outstanding first half to 2018 delivering an operating profit in the period. Opportunities within the Bioplastics division are increasing with substantial revenue potential in the medium term whilst the Stanelco RF division has delivered an exceptional start to the year. It is against this backdrop that Board remains confident in the Group’s outlook for 2018.”

The full interim results can be read here

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.

Biome Technologies plc’s pre-close trading statement for the financial year ended 31 December 2017 is published showing Group revenues for the year at £6.2m, 36% ahead of the 2016 revenues. This group growth is underpinned by growth in both the Bioplastics and RF Technology Divisions.

Click here for full RNS

Biome Technologies plc published a trading update for the nine months ended 30 September 2017 in a Trading Update on 1 November 2017.

In this update it was noted that total Group revenues achieved in Q3 were £1.5m (2016: £0.9m). This takes Group revenues for the nine months to 30 September 2017 to £4.5m, a 46% increase compared to the same period last year (2016: £3.1m) and close to the full year 2016 level of £4.6m.

Further information can be found in the published RNS here.

Biome Technologies plc announces its Preliminary Results for the year ended 31 December 2016.

Highlights

• Group revenues in 2016 of £4.6m (2015: £4.9m)
• Group EBITDA of £0.2m (2015: EBITDA loss of £0.3m), including one-off benefit of £0.4m settlement income
• Gross margin improvement resulting in reduced EBITDA loss, on a like-for-like basis, to a loss of £0.2m (2015: loss £0.3m), excluding settlement income
• Gross margin increased to 51% (2015: 43%)
• Group cash position at 31 December 2016 of £1.5m (31 December 2015: £1.6m), excluding £0.45m received under the settlement agreement following the period end

Paul Mines, Chief Executive Officer said:

“The Group delivered a solid performance in 2016 and has carried significant momentum into 2017. Within the Stanelco RF division the order book is robust and also has a strong enquiry pipeline to support our aims. The Biome Bioplastics division has made significant progress in the launch of its filter material and the Board expects this new product to move into the commercialisation phase in 2017.

The Group’s cash position remains robust and the Board remains confident in the Group’s outlook for 2017.”

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.