24th Mar 2014 11:50
LONDON (Alliance News) - Biome Technologies PLC Monday said its Stanelco Radio Frequency Technologies division has signed a contract with a "substantive customer from a regulated industry sector" in the UK to supply analytical equipment based on its induction heating technology.
In a statement, Biome said it expects the deal to generate revenues of over GBP1.5 million over two years. It expects to book receipts for about a quarter of the contract value in 2014.
"This important contract enhances the order-book of our RF Technologies Division and underpins the group's revenue growth plans. It is encouraging to see the division broadening its applications base," Biome Chief Executive Paul Mines said in a statement.
Biome Technologies shares were up 5.6% at 166.26 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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