Business
Brexit Trading Update
Brexit Trading Update.
About this update from Symphony Environmental Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 3232C Symphony Environmental Tech. PLC 27 June 2016 \n\n\n\n\n\n\n\n\n \n27 June 2016\n\n\n\n\n\n\n\n\n\n\n\n\nSYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC\n \n(\"Symphony\", the \"Company\" or the \"Group\")\n \nBREXIT TRADING UPDATE\n \nSymphony Environmental Technologies Plc (AIM:SYM), global specialists in 'making plastic smarter', with d2w controlled-life, d2p anti-microbial, flame retardants, and odour adsorbers, and d2t anti-counterfeiting technologies, today announces that it does not anticipate any negative effect from the UK referendum vote last Friday to leave the European Union (\"EU\"), nor from a weaker GB Pound.\n \nSymphony's products are mainly sold in US dollars and to a lesser extent in Euros to more than 90 countries around the world with most of them being outside the EU. The Group is therefore not materially exposed to any changes in the UK or European economies, and our imports from the EU represent only a small percentage of the Group's total imports. \n \nAs exporters, a weaker UK currency is beneficial for Symphony's business, as it helps to make our products more competitive in the international markets. The Group does not anticipate any negative effect on its current trade. Symphony's products and technologies are innovative and offer unique value for countries that need to make improvements to their environment, public health and food protection and to businesses which need to protect their brand against counterfeiting.\n \nAccordingly, the Board do not consider the UK's decision to leave the EU will adversely affect the business and believe the Group will continue to trade in accordance with market expectations.\n \n-ENDS-\n \nContacts\n\n\n\n\nSymphony Environmental Technologies Plc\n\n\n\n\n\n\n\nMichael Laurier, CEO\n\n\nTel: +44 (0) 20 8207 5900\n\n\n\n\nIan Bristow, FD\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCantor Fitzgerald Europe\n\n\n\n\n\n\n\nDavid Foreman / Michael Reynolds (Corporate Finance)\n\n\nTel: +44 (0) 20 7894 7000\n\n\n\n\nDavid Banks (Sales)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNOTES TO EDITORS:\nAbout Symphony Environmental Technologies plc\n \nSymphony has developed a range of additives, concentrates and master-batches marketed as d2p, which can be incorporated in a wide variety of plastic a...