Biome Technologies plc (LON:BIOM) has announced its audited Final Results for the year ended 31 December 2023.
Highlights:
Final Results
· Group revenues increased by 12.7% to £7.0m (2022: £6.2m).
· A very strong year for the Bioplastics division with revenues increasing by 36.9% to £6.0m (2022: £4.4m). This was a result of good uptake of our non-woven mesh and home compostable Filmic products at both new and existing customers.
· RF Technologies division revenues, after elimination of intra-group trade, decreased by 46.4% to £1.0m (2022: £1.8m) due to delays in closing key contracts. During 2023, the division won one major contract for completion in 2024. The Company is pleased that in the first quarter of 2024, it received two further contracts which are also expected to be delivered with revenue recognition in 2024.