Symphony Environment - Trading Statement
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain
("Symphony", the "Company" or the "Group")
Sales Revenue of d2p significantly increase
New d2p anti-insect product and first commercial order
Revenues for the financial year to
Revenues from Symphony's d2p "designed-to-protect" technologies are significantly ahead of last year, and are expected to comfortably exceed management expectations. In
After some smaller initial orders, the Group has now also received its first full
Also, and after two years of R&D and successful trials, Symphony has received an initial commercial order for d2p anti-insect additive technology with a very large global manufacturer of commercial agricultural products. The value of this first part-container order is
The gross margin generated in the first half of the year, at 47.4%, was lower than the circa 49% historically achieved, principally due to increased lower margin finished product sales and this level of sales mix and gross margin is expected to broadly continue for the full year.
The Group continues to invest in communications and marketing with increased spend of
The combination of the above means the Board expects full year earnings to be approximately
The Board remain confident that the Group will continue to meet 2019 expectations.
| || |
| || |
Tel: +44 (0) 20 8207 5900
| || |
| || |
Tel: +44 (0) 20 7894 7000
| || |
FTI Consulting (Financial PR)
| || |
Tel: +44 (0) 7813 456720
NOTES TO EDITORS:
Symphony has developed and continues to develop, controlled-life plastic technology which helps tackle the problem of microplastics by turning ordinary plastic at the end of its service-life into biodegradable materials. It is then no longer a plastic and can be bioassimilated in the open environment. The technology is branded d2w® and appears as a droplet logo on many thousands of tonnes of plastic packaging and other plastic products around the world. In some countries, most recently
In addition, Symphony has developed a range of additives, concentrates and master-batches marketed under its d2p® brand, which can be incorporated in a wide variety of plastic and non-plastic products so as to give them protection against many different types of bacteria, fungi, algae, moulds, and insects, and against fire. d2p products also include odour, moisture and ethylene adsorbers as well as other types of food-preserving technologies. We have also launched d2p anti-microbial household gloves and are developing a range of other d2p finished products for retail sale.
Symphony has also developed the d2Detector®, a portable device which analyses plastics and detects counterfeit products. This is useful to government officials tasked with enforcing legislation, and Symphony's d2t tagging and tracer technology is available for further security.
Symphony has a diverse and growing customer-base and has established itself as an international business with 74 distributors around the world. Products made with Symphony's plastic technologies are now available in nearly 100 countries and in many different product applications. Symphony itself is accredited to ISO9001 and ISO14001.
Symphony is a member of
Further information on the
From within the
From outside of the
This information is provided by RNS, the news service of the
Quick facts: Symphony Environmental Technologies PLC
Market Cap: £19.98 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE