Business
Preliminary Results for the year ended 31 Dec 2015
Preliminary Results for the year ended 31 Dec 2015.
About this update from Symphony Environmental Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 6936V Symphony Environmental Tech. PLC 20 April 2016 \n\n \n \n\n\n\n\n\n\n\n20 April 2016\n\n\n\n\nSYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC\n(\"Symphony\" or the \"Group\")\n \nPreliminary Results for the year ended 31 December 2015\n \n \n \nSymphony Environmental Technologies Plc (AIM: SYM and NASDAQ OTC: SEPTY), a global specialist in products and technologies that \"make plastic smarter\", announces its preliminary results for the year ended 31 December 2015.\n \nHighlights \n \n· Revenues of £6.37 million (2014: £6.35 million) \n· Gross profit of £2.93 million (2014: £3.16 million)\n· Operating loss before non-recurring costs of £0.97 million (2014: loss £0.27 million)\n· Non-recurring costs £1.31 million (2014: £nil)\n· Loss before tax of £2.31 million (2014: loss of £0.39 million)\n· Loss after tax of £3.33 million (2014: loss £0.31 million) \n· Basic loss per share of 2.26p (2014: loss per share 0.23p)\n· Cash generated in operations of £0.03 million (2014: cash used in operations £0.10 million)\n· Somerston placing of £500,000 at 10p per ordinary share\n· Directors purchase of 501,000 shares during the year\n \nPost year-end \n \n· 1st quarter revenues 8% higher than same period last year\n· Operating costs expected to reduce by approximately £750,000 for 2016\n· Completion of new Recycling Study into oxo-biodegradable technology\n· Launched new corporate website \n \n \nNirj Deva, Chairman of Symphony, said:\n \nThe year under review included some major investments in marketing and development costs, however, revenues remained disappointingly static, resulting in the operating loss before exceptional items increasing to £0.97 million (2015: £0.27 million). \n \nAs a result of the above, and following years of significant investment into our d2w oxo-biodegradable plastic masterbatch range, the Group's primary revenu...