23rd Jul 2015 08:39
LONDON (Alliance News) - Bioplastics and radio frequency technology company Biome Technologies PLC on Thursday said its revenue in the first half fell year-on-year as it was hit by the later phasing of shipments in its RF Technologies arm.
Biome said its revenue for the six months to the end of June will be GBP2.1 million, down from GBP2.3 million a year earlier. Though second quarter revenue was solid, it was hit by later phasing of shipments from Biome's RF Technologies radio frequency business.
Those issues meant revenue in the RF Technologies division declined in the first half, though Biome said its order book leaves it feeling confident on the outlook for the business. Bioplastics revenue also fell slightly, though orders for its commercialised products did improve in the half to sit broadly flat year-on-year.
Biome anticipates meeting its expectations for the first half and the full year, with an acceleration of revenue growth set to materialise in the second half.
Shares in Biome were down 4.8% to 138.50 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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