Biome Technologies plc (LON:BIOM), a leading bioplastics and radio frequency technology business, today provides an unaudited pre-close Trading Update for the financial year ended 31 December 2023.
Group revenues for the year ended 31 December 2023 were in line with current market expectations at £7.0m and 13% ahead of the previous year (2022: £6.2m).
The Group had a cash balance at the year-end of £0.6m (31 December 2022: £0.8m) and had 2026 convertible loan notes outstanding of £0.85m and no bank debt.
The Group’s results for the year ended 31 December 2023 are scheduled to be published on 29 April 2024.
Bioplastics Division
The division’s revenues for the year to 31 December 2023 were £6.0m, an increase of 36% on the prior year (2022: £4.4m).