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Symphony Environmental Technologies PLC highlights increased revenues across main


The biggest increase was in the company’s finished products segment, which includes personal protective equipment, which saw revenues surge 200% in 2020

() has reported revenue increases across all of its main product areas in its 2020 financial year.

In a trading update for the year to December 31, the plastics specialist reported that revenues increased 19% to £9.8mln, with a further £0.7mln not recognised during the year due to a shipment missing the company’s year-end cut-off due to shipment congestion in the Far East.

READ: Symphony Environmental begins legal action against EU over Single Use Plastics Directive

The company reported revenue rises across all main product lines, with its finished products segment, which includes personal protective equipment (PPE), reporting a 200% increase in revenues to £1.8mln.

Meanwhile, the firm’s d2w masterbatch segment, which makes biodegradable plastics, reported a 2% rise in revenues to £7.1mln, and its d2p anti-microbial plastics business saw an 88% increase in revenues to £0.5mln.

As a result of the increases, Symphony said it expects to report an operating loss of £0.4mln for the year, narrowed from a £0.6mln loss in 2019, while net cash at the end of the year stood at £0.5mln.

Into 2021, the company said it has invested in the appointment of three new sales professionals at the start of the year, adding that it has also enhanced spending to improve market penetration in key territories in Latin America.

Symphony also said it is “actively looking to further complement the current team with additional specialist resources”.



Read More: Symphony Environmental Technologies PLC highlights increased revenues across main

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