News blog

Symphony Environmental Technologies

  • BY: Andrew Hore |
  • POSTED: 16/09/2008 |

Symphony Environmental Technologies has cut its interim loss.

The overall loss was reduced from £1.06m to £167,000 in the six months to June 2008.

Net debt more than doubled to £1.06m. Growth is partly being funded through invoice discounting.

Sales of Symphony’s degradable plastics additive, d2w, grew by two-thirds to £2.11m. Sales of its own plastic bags are declining so the overall group turnover was 35% higher at £2.3m.

More than three-quarters of revenues come from eight countries. Symphony has distribution agreements in more than 50 countries.

New distribution agreements suggest that d2w sales will continue to grow in the second half.

Despite the positive news the share price slipped 0.125p to 4.125p, valuing Symphony at £4.34m.

The main worry is the level of debt. Symphony is looking at ways of replacing the Headstart convertible loan which is valid until the end of March 2009. This loan is currently worth £380,000. It may take Symphony a little while longer to reach the point where it is generating cash so there is likely to be a further cash outflow before that happens. It would be a shame if lack of finance hampered the pace of Symphony’s growth. 

© 2019 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

News Blog
All micro news

Cambridge Cognition

Cambridge Cognition has won its largest ever digital health contract. 

Continue reading... | 19/03/2019

John Lewis of Hungerford

Fitted kitchens supplier John Lewis of Hungerford is starting to see the benefits of past investment in the form of higher levels of customer enquiries, but it has not fed through to revenues yet. 

Continue reading... | 19/03/2019

Quoted Micro 18 March 2019

Continue reading... | 18/03/2019

LiDCO Group

LiDCO Group has appointed a master distributor in Latin America. 

Continue reading... | 13/03/2019

All micro news

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at Subscribe to AIM Micro RSS Feeds