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Symphony Environmental Technologies

  • BY: Andrew Hore |
  • POSTED: 30/07/2008 |

Symphony Environmental Technologies has made a strong start to 2008.

The oxo-degradable plastic bag ingredient supplier grew its revenues by 37% in the six months to June 2008. The d2w additive that makes plastic oxo-degradable grew its revenues by 73%. The change in mix of revenues, with d2w generating a greater proportion, means that gross margins improved to 40%. There are distributors in 58 countries.

A 15 year distribution agreement has been signed with Luibeg International in India. The first d2w shipment was supplied to India in July.

The Symphony Energy business, which is developing technology for the recycling of tyres, has received a £1.2m grant from the government.

Symphony shares rose 0.125p to 4p, valuing the company at £4.21m.

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