Degradable plastics additive supplier Symphony Environmental Technologies says that 2012 trading is encouraging.
Symphony has d2w oxo-degradable plastic and d2p anti-microbial technologies. There is increasing interest in the d2p products for inclusion in food applications.
Trading is second half weighted. Revenues edged ahead to £8.54m in 2011 but higher investment reduced pre-tax profit from £1.01m to £416,000. The cost base is being maintained this year.
Symphony has signed a 20 year exclusive distribution agreement for d2w in China with Super Success International.
The tyre recycling business could be near to becoming a commercial opportunity.
At 8p a share, Symphony is valued at £10.2m.
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