Business
Preliminary results
Preliminary results.
About this update from Symphony Environmental Technologies Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4732G\n Symphony Environmental Tech. PLC\n 30 March 2022\n \n \n \n \n 30 March 2022\n \n \n SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC\n \n \n (\"Symphony\", the \"Company\" or the \"Group\")\n \n \n Preliminary results\n \n \n \n \n \n Symphony Environmental Technologies Plc (AIM:SYM) global specialists in technologies that make plastic and rubber products \"smarter, safer and sustainable\", is pleased to announce its preliminary results for the year ended 31 December 2021.\n \n \n \n \n \n Financial highlights:\n \n \n \n \n \n · \n Group revenues £9.16 million (2020: £9.77 million), lower principally due to £0.50 million of product missing year end shipping cut-off\n \n \n · \n Revenue mix\n \n \n \n \n \n \n \n \n \n 2021\n \n \n \n \n 2020\n \n \n \n \n \n \n d2w Masterbatch\n \n \n \n \n £7.19 million\n \n \n \n \n £7.27 million\n \n \n \n \n \n \n d2p Masterbatch\n \n \n \n \n £0.45 million\n \n \n \n \n £0.47 million\n \n \n \n \n \n \n Finished Products\n \n \n \n \n £1.40 million\n \n \n \n \n £1.80 million\n \n \n \n \n \n \n Other\n \n \n \n \n £0.12 million\n \n \n \n \n £0.23 million\n \n \n \n \n \n \n \n \n \n · \n R&D spend expensed and/or capitalised £0.66 million (2020: £0.60 million)\n \n \n · \n Gross profit £3.59 million (2020: £4.11 million)\n \n \n · \n Reported loss before tax £1.53 million (2020: £0.44 million)\n \n \n · \n Basic loss per share 0.81p (2020: 0.19p)\n \n \n · \n Cash used in operations £0.60 million (2020: £1.44 million)\n \n \n \n \n \n Business highlights:\n \n \n \n \n \n d2p Technologies\n \n \n · \n US FDA further approval for antibacterial plastic technology with greater loading and wider film use in bread packaging\n \n \n · \n Canadian Health approval obtained for antibacterial bread packaging films\n \n \n · \n Meditech nitrile glove manufacturing, marketing and distribution agreements\n \n \n · \n Antimicrobial ten-minute Coronavirus kill rate achieved\n \n \n ·\n S\n ubstantial progress in many product areas including an increase in customer trials and product-tests currently underway. \n \n \n · \n Significant potential sales identified in many of the current pipeline projects \n \n \n Corporate\n \n \n · \n Major Expansion with Joint Venture into India with Indorama Corporation - completed in February ...