News blog
Biome Technologies
- BY: Andrew Hore |
- POSTED: 22/01/2015 |
Biome Technologies increased its 2014 revenues by 81% despite a subdued fourth quarter.
Total revenues were £3.6m, compared with £2.3m in the first six months of the year, and there was cash in the bank of £2.4m at the end of the year.
In the bioplastics division the main customer for the single-serve coffee market in the US had technology problems and although these have been rectified sales have not fully recovered. Revenues were £1.2m in the first six months and £300,000 in the second six months of 2014. Other food-related packaging products continue to be tested by potential customers.
The RF division had a strong second half but revenues were still lower than in the first half of the year.
At 120p a share, Biome is valued at £2.92m.
The 2014 figures will be published on 25 March.
Hargreave Hale has trimmed its stake to 4.8%.
AIM Journal January 2015 available.
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