Extract5 Dec 2012 09:50
5 December 2012
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony", the "Company" or the "Group")
Trading Update
Symphony Environmental Technologies plc, the specialist in advanced plastics technologies including controlled life, anti-microbial and anti-counterfeiting products, and recycling technologies, announces a trading update for the financial year ending 31 December 2012.
Revenues for the second half of the financial year have reflected the Company's normal weighting towards the latter six months of the reporting period and will be significantly higher that the first half (H1: £2.12m). However, revenues for the financial year will be substantially lower than the previous year (2011: £8.5m) and market expectations. A trading loss of approximately £1.1m for the financial year is expected to be reported (2011: £0.5m). The principal reason for the fall in revenue is a decline of approximately 30 percent in d2w® additive sales.
A number of new large potential territories from which d2w® additive sales were expected were delayed. However, the Group has received initial orders from some of these territories and positive indications of interest for future sales, albeit the timing is not yet known.