Business
Preliminary Results for the year ended 31 Dec 2016
Preliminary Results for the year ended 31 Dec 2016.
About this update from Symphony Environmental Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 9220Y Symphony Environmental Tech. PLC 09 March 2017 \n\n \n \n\n\n\n\n\n\n\n9 March 2017\n\n\n\n\nSYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC\n(\"Symphony\", the \"Company\" or \"the Group\")\n \nThe information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is considered to be in the public domain\n \nPreliminary Results for the year ended 31 December 2016\n \n \nSymphony Environmental Technologies Plc (AIM: SYM and NASDAQ OTC: SEPTY), a global specialist in products and technologies that \"make plastic smarter\", is pleased to announce its preliminary results for the year ended 31 December 2016.\n \nHighlights \n· Revenues increase by 6.8% to £6.80 million (2015: £6.37 million) \n· Gross profit increases by 16.3% to £3.41 million (2015: £2.93 million)\n· Operating profit before non-recurring costs of £0.20 million (2015: loss £0.97 million)\n· Non-recurring costs of £0.05 million (2015: £1.31 million)\n· Profit before tax of £0.12 million (2015: loss £2.30 million)\n· Profit after tax of £0.17 million (2015: loss £3.33 million) \n· Basic earnings per share of 0.11p (2015: loss per share 2.26p)\n· Operating performance ahead of market expectations\n \nPost year-end\n· Launch of d2p anti-microbial gloves and UK product listing\n· Launch of d2p-treated water pipes\n \n \nNirj Deva DL, FRSA, MEP, Chairman of Symphony, said:\n \nI am very pleased to report a profit before tax of £123,000. This positive performance compares well with the loss of £2.3 million reported in 2015. This result was achieved by an increase in revenues to £6.80 million (2015: £6.37 million) and resultant 16.3% increase in gross profits to £3.41 million, but in particular, a substantial reduction in overheads.\n \nDuring the year, d2w continued to generate the majority of its revenues in markets mainly outside of Europe...