24th Jul 2014 14:57
LONDON (Alliance News) - Biome Technologies PLC Thursday said its revenues more than doubled in its second quarter as both of its divisions performed well.
The bioplastics and radio frequency technology business said its total revenues increased to GBP1.2 million for the three months ended June 30 from GBP500,000 in the previous year and GBP1.1 million in the previous quarter.
Biome said its bioplastics division revenues increased to GBP600,000 from GBP100,000 the previous year and revenues from its RF division was also GBP600,000, up from GBP400,000
"The group's revenues and cash are slightly ahead of the Board's expectations at the mid-year point with the reporting of the interim results scheduled for September 3," the company said in a statement.
The company said its cash position at June 30 was GBP3.1 million and it is confident that good revenue progress can be maintained for the full-year.
Biome Technology shares were up 3.7% to 2.825 pence on Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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