News blog

Biome Technologies

  • BY: Andrew Hore |
  • POSTED: 23/04/2014 |

Biome Technologies has grown its first quarter revenues in both its bioplastics and RF products divisions.

The share price rose 27.5p to 162.5p, which values Biome at £3.74m.

In the three months to March 2014, group revenues increased from £400,000 to £1.1m. The bioplastics division contributed £500,000 and RF technologies contributed £600,000 – the revenues were equally split in the first quarter of 2013.

In 2013, revenues declined from £5.65 million to £1.98 million, while the underlying loss fell from £2.06 million to £1.69 million. The sale of the Biotec stake and refocusing on higher margin products reduced bioplastics revenues and the RF Technologies division’s revenues more than halved.

Bioplastics is benefiting from increased demand from the US single-serve coffee market and there are potential new products in food service and board coating. The RF Technologies order book is growing and is higher than the revenues generated in 2013. One-quarter of the £1.5m contract for induction heating technology-based equipment should be recognised in 2014.

Overall revenues are expected to grow to £4.7m in 2014 but Biome will continue to lose money.

Declan Brown has been reappointed as finance director.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2014_55.pdf

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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 AIMMicro.com. Subscribe to AIM Micro RSS Feeds