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Hold them to account
seeking some kind of reassurance in the absence of any updates from the management team at sym i read back through some old trading updates. the adage jam tomorrow is obviously well used in connection with sym but the scale of non delivery is quite staggering. even chance alone would land at least one of the many big ticket sales growth opportunities.
i still therefore find it hard to believe that a group of people can be this incompetent. here’s an extract from an update a while back on the opportunity for india and d2w…
based on current enquiry and order activity, sales of d2w by symphony india are expected to increase to levels of over £250,000 per month from early 2023. further investment is being made by symphony india to enhance its marketing and sales capability, with five new experienced employees expected to join shortly. this investment is being made now to enable symphony india to strengthen its position in the indian market which it estimates could generate over £10 million in annual sales during the course of 2024.
symphony india has an established high level management team to support a pan-india distribution network. it currently has 16 new hub distributors either in place or in final contact discussions. hub distributors are large, well-connected third-party companies with strong customer connections, and expert technical and sales personnel. if appointments continue on the current trajectory, more than 30 hub-distributors should be in place before the end of h1-2023.
the increase in sales is being driven by the plastic waste management rules 2022 (as amended 6.7.22) which permits government-approved biodegradable plastic products to be exempted from restrictions that would ban most plastic film products unless they are above 50-micron thickness, and 120 microns for carrier bags, (which generally means an increase in cost by more than two to three times). producers and brand owners using certified biodegradable plastic materials will be free from this obligation, thus providing symphony's d2w technology with a competitive advantage in a country with a population of c.1.4 billion.
symphony's d2w technology has been tested by intertek india, a government-approved laboratory, to the astm standard 6954 (an internationally recognised standard for proving biodegradability and non eco-toxicity of plastic products in the open environment), and symphony india is waiting for official approval that producers using d2w technology will be exempt from the regulations. customers are however, already placing orders and activity is increasing as stated above.
£10m of sales from d2w in india alone by the end of this year. be good to get an update on that now that q1 2024 is nearing its end.
grupo bimbo, saudi d2w sales, fire ******ants and insect repellent as well as a host of other d2p applications. for those still invested please contact the management on this and up the pressure to hold them
Just a guess but 1p by Sept/Oct , this year…😬
Thanks shatter.
will be the first ive made. normally when i sell. price goes up.
Tricky….i think you made the right decision. G.l
I sold out at a loss a few weeks ago. . i found there response to eu case a bit bitter. and took a gamble on he1 . this is not advice or promoting. but after being with sym for years. i thought time to move on.. but i wish good luck to all those who stick with this company.
it will be just my luck that they pull a rabbit out of the bag. but one has to stick to there decision good or bad.
The boat that thinks it’s a submarine diving to new lows with every update
I'm in the same boat as you here Shatter .. not a big hit in the scheme of things for me... a car crash in terms of per cent down now though .... but will sit on what's left and hope at some stage whenever this company gets some serious momentum going.. which is clearly still possible..
India is a latest hope of mine.. buts that's a slow burner too, I'll expect ...
This time next year Rodney.... You know it makes sense .. etc..
Very little left of my original investment and don’t see it turning around anytime soon , if ever! Another bottom drawer right off.. gl all
That doesn’t mean this is a bad investment especially at this price
I’m sure everyone here has done plenty of research and know that we have plenty of competition
They all have the same problem and it’s the cost it’s prohibitively expensive to do the right thing
Https://youtu.be/f3iytVthDnU?si=ONKImRuNMltT1Iwg
Here’s one and biome is another
Answer: A lot esp in China
How many other companies have a plastics chemical additive that causes plastic to degrade in the same way as plastic with d2w pellets added.
I agree
remains to be seen, how this will effect company orders. as not a lot been said for quite some time now.
Sym’s response is a bit wishy washy…in their view they are still right and the EU is wrong.
I guess i will have to hang on a bit longer. see if this company recovers. but i certainly will not be adding to it.
There you go. Business carries on as before really. Market reaction to the original announcement was completely overblown in my opinion. Judgement clearly wasn’t saying that plastic with D2W added creates micro plastics or fails to break down more quickly into harmless organic matter. It simply says that at the time the directive was adopted the EU acted legally. Most importantly, it did not, as I read this, contradict SYM’s view that the prohibition does not apply to plastics to which D2W has been added.
The judgement seems fairly clear cut and Sym’s lack of response is deafening ! It’s going to be very difficult to put a positive spin on the judgement….oops!
Likely that SYM will update more fully in the next few days. Last weeks announcement would have come as a disappointment so it’s good that they avoid a knee jerk response while emotions might be running high. They’ll consider their position and next steps carefully and update soon. Multiple avenues for growth and no d2w sales in EU at risk from this update (nothing priced in for any potential future EU d2w sales either to my mind).
Plenty of questions for the company to answer on commercial traction from ME, India and Americas regions. Frustratingly close but until we see clear
Evidence of meaningful and scalable progress then the shares unlikely to move a great deal I suspect.
Well shatter. I hope they come out with a statement soon. just saying nothing is not going to help.
Tricky125… yep !.. not sure how they are going to answer the judgement ! Their team obviously put across their evidence and it hasn’t been accepted… all gone very quiet on the Western front !
I wonder when the management will make a comment. no doubt they are thinking how to gloss over this .
I always wondered why the SP dropped quite so low between the hearing and the judgement and I suspect this result has been know for sometime in certain circles. My guess the SP will settle back around 4p pre 18th Jan RNS level reflecting valuation of SYM having lost court case. Always someone more in the know than you is my lesson!!
This judgement puts quite a dampener on Sym’s biodegradable plastic technology and it may be better to concentrate on the anti- bacterial side of the business which appears to work ! Can’t see what is going to boost the sp in the short to medium term. Will not be averaging down for the foreseeable.. gl all