Southampton-based bioplastics and radio frequency technology business Biome Technologies plc has announced reports of encouraging group revenue growth in its Trading Update for the quarter ended March 31 2023.
Group revenues were up to £1.9 million, which is a 77 per cent increase on the same period last year (£1.1 million). The Bioplastics Division of the company reported revenues of £1.6 million this quarter, which is an increase of 32 per cent on Q4 2022 (£1.2 million) and a 65 per cent increase on Q1 2022 (£1.0 million).
A spokesperson for Biome said: ‘’The performance of the Bioplastics Division is encouraging for both the scale of continuing supplies of compostable coffee filtration materials to two US end-customers and also the supplies of filmic products to a wider range of end-customers.’’
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.