Biome Technologies PLC Pre-close Trading Statement (6658U)
January 20 2017 - 2:00AM
UK Regulatory
TIDMBIOM
RNS Number : 6658U
Biome Technologies PLC
20 January 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
20 January 2017
Biome Technologies plc
("Biome" or "the Group")
Pre-close Trading Statement
Biome Technologies plc's pre-close trading statement for the
financial year ended 31 December 2016 is set out below.
Group revenues for the year were GBP4.6m, slightly behind the
2015 revenues of GBP4.9m.
Revenues in the Bioplastics division were GBP1.6m, a decrease of
15% on the 2015 turnover of GBP1.9m due to the lower levels of
campaign runs in the first half of 2016. The second half of 2016
saw sales of GBP1.0m which is 18% higher than the 2015 comparative.
The second half of the year also saw some initial quantities of the
new BiomeMesh filter product sold.
The RF division finished the year strongly and achieved full
year revenues of GBP3.0m, which is the same as the 2015 revenues of
GBP3.0m. This revenue was once again achieved across a broad spread
of equipment types and included the delivery of the previously
announced advanced analytical equipment to a regulated industry.
Encouragingly, as we move into 2017, the division has a good order
book which is underpinning a positive start to 2017.
The Group's cash position at 31 December 2016 was GBP1.5m (30
September 2016: GBP1.2m). This increase in cash is a mixture of
trading performance and the timing of deposits within the RF
division.
The recently announced settlement agreement will result in a
further cash receipt of GBP0.45m in the first quarter of 2017. This
amount, not included in the Group revenues shown above, will be
recorded as other income in the 2016 accounts.
The Board expects the loss before interest, tax, depreciation
and amortisation for the full year of 2016 (excluding the other
income of GBP0.45m) to be similar to the level achieved in 2015.
Trading in 2017 has started in an encouraging manner across both
divisions.
The audited results for the year ended 31 December 2016 are
scheduled to be published on 29 March 2017.
-Ends-
For further information please contact:
Biome Technologies plc
Paul Mines, Chief Executive
Officer
Declan Brown, Group Finance
Director
www.biometechnologiesplc.com Tel: +44 (0) 2380 867
100
Allenby Capital
David Hart (Nomad)
Chris Crawford/Kelly Gardiner
(Broker)
www.allenbycapital.com Tel: +44 (0) 20 3002 2070
FTI Consulting
Oliver Winters Tel: +44 (0) 20 3727 1535
www.fticonsulting.com
This information is provided by RNS
The company news service from the London Stock Exchange
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January 20, 2017 02:00 ET (07:00 GMT)