25th Apr 2016 08:15
LONDON (Alliance News) - Bioplastics and radio frequency technology company Biome Technologies PLC on Monday said revenue was flat and it made a small profit in the first quarter.
Bioplastics revenue was down to GBP200,000 in the first quarter, from GBP500,000 a year earlier, due to the timing of new campaign production runs in the US single-serve coffee market.
Revenue in Biome's Stenelco RF Technologies arm, however, grew to GBP900,000 from GBP600,000, driven by orders for fibre optic furnaces and an analytical equipment contract.
Overall, the two divisions cancelled each other out, with revenue flat at GBP1.1 million for the first three months.
The company said it remains confident on the outlook for the rest of 2016.
Biome shares were flat at 190.00 pence Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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