30th Mar 2016 09:35
LONDON (Alliance News) - Bioplastics and radio frequency technology firm Biome Technologies PLC on Wednesday said its pretax loss narrowed in 2015 thanks to a rise in revenue.
Biome said its pretax loss for the year to the end of December was GBP782,000, compared to a GBP1.3 million loss in 2014.
Revenue grew to GBP4.9 million, up 37% from GBP3.6 million the year earlier, following an improved performance across its businesses and a boost in the second half from a new bioplastics product line delivering sales.
Biome added it was earnings before interest, taxation, depreciation and amortisation positive in the second half.
"We have had considerable success in broadening the product portfolio in both divisions and have continued to gain market share. The group's cash position remains robust and the board remains confident in the group's outlook for 2016," said Biome Chief Executive Paul Mines.
Biome shares were down 1.4% to 164.25 pence Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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