22nd Jan 2015 09:50
LONDON (Alliance News) - Biome Technologies PLC said Thursday that it expects to meet its expectations for 2014, with revenue rising to GBP3.6 million from GBP2.0 million in 2013.
The company said that revenue from its bioplastics division were GBP200,000 in the fourth quarter, compared with GBP100,000 in the previous quarter, as growth in the single-serve coffee market remained constrained by competition to its main customer's brewing technology. It said that it understands the problem has been resolved technically, but demand has "yet to normalise."
In its Radio Frequency division's fourth quarter revenue rose to GBP600,000 from GBP400,000. Its order book for this business is building well, Biome said.
It had cash of GBP2.4 million as at the end of 2014, compared with GBP2.8 million as the end of September 2014.
Biome is scheduled to announce its full year results March 25.
Shares in Biome Technologies are untraded Thursday. It last closed at 120.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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