24th Apr 2018 13:56
LONDON (Alliance News) - Bioplastics and radio frequency technology company Biome Technologies said on Tuesday it continued to make a profit for the three months to the end of March along with revenue growth.
The pretax profit made was not disclosed, however, Biome reported revenue for the first quarter of 2018 at GBP2.1 million, up 37% from GBP1.5 million for the same period the year before.
Revenue growth came from the Stanelco RF Technologies division, due to strong demand for fibre optic furnaces and other products, along with a growing forward order book.
However, the Bioplastics division revenue dropped by half as a result of variation in the frequency and timing of customer production.
Shares in Biome Technologies were down 5.3% at 355.00 pence on Tuesday.
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