RE: Results10 Jun 2025 14:04
From the Interim Results (09/09/2024):
Symphony Environmental Technologies Plc (AIM: SYM), the global specialist that makes plastic products smarter, safer and sustainable, is pleased to announce its interim financial results for the six-month period ended 30 June 2024 ("H1-2024" or the "Period").
Financial highlights
· Group revenue of £3.4 million (H1-2023: £3.6 million) due to reduced non-masterbatch revenues
· Gross profit margin increased to 46% contributing to increased gross profit of £1.6 million (H1-2023: 42% and £1.5 million respectively)
· Operating loss reduced by 50% to £0.4 million (H1-2023: £0.8 million)
· Significant fall in operating loss in Q2-2024 to £50,000 with strengthening results in all main d2w markets
· Successful equity fundraise of £1.3 million in March 2024
· Extension of £1.5 million convertible loan notes to 31 December 2025
Post period-end
· Continuing to operate in line with Q2-2024
· Positive legislation and regulation changes in key markets increasing d2w demand
· d2p bread technology becomes commercial in one more country, making a total of three countries
· d2p bread technology undergoing two semi-commercial pre-evaluation trials in the USA
Michael Laurier, CEO of Symphony commented "These H1-2024 results demonstrate a material turnaround in financial performance following improved d2w core markets during Q2 and successful implementation of a cost reduction program, which has started to increase our operating margins. This process will continue through the second half of this year where we are seeing a further strengthening in our global d2w markets as well as continuing positive developments in our d2p programmes."
I they continued the second half as they did the first half of 2024, can't see why the results shouldn't be decent.
Hopefully the Tranche B shares should of hit the market yesterday, would be nice for an RNS to get this going.
Why would a fund invest £2million @ 20p, if they thought the results were going to be bad, and this would drop, and at around 3p, when the raise was announced initially?!
£10k delayed buy @ 7.5975p seems to think somthing is on its way...