SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC — Earnings Release 2014

Jul 14, 2014

National Storage Mechanism | Additional information

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RNS Number : 1631M

Symphony Environmental Tech. PLC

14 July 2014

	14 July 2014

Symphony Environmental Technologies Plc

("Symphony" "Group" or the "Company")

Trading update

Symphony Environmental Technologies Plc (AIM: SYM), global specialists in "making plastic smarter", with d2w controlled-life, d2p anti-bacterial and d2t anti-counterfeiting technologies, is pleased to announce the following activities in the first six months of 2014:

d2w Controlled-life Plastic Technology

•     Major fertilizer company in Pakistan adopts d2w in all polythene bag liner applications

•     Entered into a paid-for biodegradable development project with an $80 billion global consumer products corporation  on one of their key product lines

•     Successful completion of first phase PET film development

•     A number of high quality sales leads are moving towards completion from several market sectors including food, chemical and agricultural

•     Progress is being made with enforcement in countries that have legislated in favour of d2w type technology

d2p Anti-microbial Plastic Technology      

•     Entered into a development agreement with an $50 billion global polymer corporation

•     End-users launch new finished products incorporating d2p including air-conditioning pipes and filters, lavatory seats, garbage & clinical waste bags 

•     Achieved first sales in 2 out of 5 of the d2p product lines

•     Successful trials for post-harvest fruit applications an laboratory tests for rice and cheese packaging applications

•     Successful tests for foamed mattresses

•     FDA bread packaging application approval expected by the year-end 

•     FDA food contact approval in place for repeated use treated articles such as chopping boards and containers

•     Non-food applications approved for use in some EU countries and expected shortly in the USA

d2t Tag and Trace Technologies

The first order has been confirmed for a US user to combine d2t within a chemical formulation in order to monitor the addition rates and to detect counterfeiting. As a result of legislation changes and increase in enforcement activity, new interest and orders for d2detector have been placed.

Interim results

The Company expects to announce its interim results for the six months to 30 June 2014 in September. Revenues are expected to be approximately £3.3 million for the first half with administrative expenses significantly reduced following the cost reductions undertaken during 2013. 

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Contacts

Symphony Environmental Technologies Plc
Michael Laurier, CEO	# Tel: +44 (0) 20 8207 5900
Ian Bristow, FD
Cantor Fitzgerald Europe
Mark Percy (Corporate Finance)	# Tel: +44 (0) 20 7894 7000
David Banks / Paul Jewell (Corporate Broking)

This information is provided by RNS

The company news service from the London Stock Exchange

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