Bioplastics and radiofrequency company Biome Technologies said in an update on Tuesday that it recorded total revenue of £7m for 2023, meeting market expectations and marking a 13% increase over the prior year’s outturn of £6.2m.
The AIM-traded firm said that at the end of the year, it held a cash balance of £0.6m, slightly down from the prior year’s £0.8m. Additionally, it had £0.85m worth of outstanding 2026 convertible loan notes, with no bank debt reported.
The bioplastics division generated revenue of £6m for the year ended 31 December, marking a substantial 36% increase compared to the prior year’s revenue of £4.4m.
Biome Technologies plc (LON:BIOM) is a growth oriented, commercially driven technology group. The Group’s primary activity is the development of its fast growing business in bioplastics. The Group comprises two divisions: Biome Bioplastics and Stanelco RF Technologies.
