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SYM going for that end Friday, bury bad news, after market RNS release? Who knows?
I do love a bit of optimism, ??
Personally, I am optimistic that the delay is indeed about trying to milk as much positivity from improving trade in 2023 as possible.
My late father was always a supporter of this outfit. A a packaging businessman he felt that all the ratios were right. I wonder if he would feel the same now.
As for ‘imminent’ results, I keep hearing my father’s sage words:
“Bad news takes longer to travel”
Just seen on stockopedia that results are due tomorrow .
Lets hope we have favourable news
Deadline is 6 months on AIM but most get it out by end April or before. Yes, a bit worrying. We know the 2022 results - it is is current trading.
I think they have 4 months to provide the results update from the year end date. If correct , That gives them 13 more days.
Many times before I would have allowed myself to think that the delay is due to the SYM team working feverishly to get a large new order over the line so they can include in the results statement. Sadly though every time it’s actually been due to them figuring out how to dress up a downgrade to expectations. Time will tell but I’m feeling increasingly uneasy
They are past the normal date. Last two years 31 March. Before that (except COVID year) has been even earlier. Looking a little ominous if they do not get something out soon.
Anyone know when results are Due?
i never ever under stand this company . why oh why are they not on national TV pushing there case . the mind , yes i have one boggles,,, sales team NOTE!
NEVER HAS THERE BEEN A BETTER TIME ,,,,,,,,
Quite a lot of trades in the first ten minutes this morning. Unusual.
There seems to be a 50k buyer active this morning. After the posts below wonder if someones in the know on the upcoming no's.
…. should be out any day now if last year is anything to go by, hopefully with a nice positive update on current trading and outlook.
More on the court case plus note the comment on India re differences in regulation. It is not an easy place to do business.
https://bioplasticsnews.com/2023/03/28/michael-stephen-euro-arrogance-plastic-policy-in-india-and-canada/
I agree that the court case is really a long term issue. I think SYM mainly went for it because the EU’s position was damaging d2w’s position elsewhere in the world. Near term what matters is reestablishing d2w’s position in the Middle East and how successful Indorama will be in India. If India can be got to work that would be a major step forward. Also we are overdue to hear about new d2p sales and contracts.
I have noticed that recently SYM’s Rivulis Protect product has moved up on Rivulis’s website to be the first product displayed. So one would hope for more sales from that direction.
https://www.rivulis.com/category_product/products/drip-tapes-drip-lines/
The result of the court case was always going to take a long time to come out. Frankly, the best thing about the news is that legal spend is now over, at least until the judgment comes out. My own view is and always has been that the court case is a bit of a distraction in the short term. If we win, it may well help with take up of the tech, but I doubt very much if significant damages will be awarded. We have enough in the pipeline in the short term to transform this share without the court decision if the company’s recent statements are accurate.
this needs pushing across many fronts . the tech works and THEY know it ,, too wait 12
-18 months is a joke . the plastics industry is BENT like many others ,, this needs a article in the times etc , could SYM not ARRANGE this ?
STINKS ...
https://bioplasticsnews.com/2023/03/22/michael-stephen-eu-ban-on-plastics-unlawful/
I cannot see me hanging around 12/15 months. as there will be election then. and this will be delayed further.
good luck to all who wish for good outcome.
Unbelievable…
(Alliance News) - Symphony Environmental Technologies PLC on Tuesday said its case against a single use plastics has been heard by the General Court of the EU in Luxembourg, with a judgement expected in due course.
The Hertfordshire-based developer of sustainable plastics and rubber said the case was heard on Monday, with Symphony Environmental's case being that article 5 of the Single-use plastics Directive 2019/904 is unlawful, claiming for losses and reputational damages.
In December 2020, Symphony said that it "has been advised by three barristers, all experts in EU law, that this part of the directive is confusing and illegal". The legal action is for financial damages against the Commission, Parliament and Council of the EU, Symphony explained.
It said it does not accept that article 5 applies to its technology, "but the confusion caused worldwide by the wording of the legislation is obstructing the adoption of the technology".
"For every day it remains in force Symphony suffers loss, but more important, ordinary plastic continues to be used, and thousands of tons of it are getting into the open environment, where it will persist for 50 years or more," Symphony Environmental said in a statement.
The court hearing was heard by five judges, including the president of the court.
Symphony Environmental said a written judgment will be delivered in due course, which its legal advisers estimate could be 12 to 15 months after the hearing and without prior notice.
any news on court case ?
All the best NtM.
I also thought the entry in the India would have also given a hugh boost as the use of plastic is extremely high in that country. But alas, nothing happened on that either.
….to see a strong recovery intraday from an initial drop of around 10%. Good sign imo.
I think a little care is needed on the US plastic bottle announcement. It went out as a Reach announcement ie an announcement that is not deemed material enough for an RNS but is of interest. I know Laurier bigged it up in the interview but we have heard all this stuff before from him and it has come to very little or often nothing.
It is anyone’s guess what the current results are like. On the plus side they have just said that the Middle East facility is functioning as expected - and that area is critical to d2w sales and where last year I think most of the drop off in d2w sales occurred. On the negative side we have heard nothing about new d2p sales even though in autumn last year they promised that by the end of the year. For example, presumably Rivulis has not yet reordered? Also nothing on nitrile gloves.
Also Bristow STILL cannot get his figures right. Third year in a row sales have been adjusted downwards when audited because of cut off issues. Hopeless.