Biome Technologies (BIOM)

Sector:

Engineering

Index:

FTSE AIM All-Share

95.00p
   
  • Change Today:
    -5.00p
  • 52 Week High: 175.00
  • 52 Week Low: 82.00
  • Currency: UK Pounds
  • Shares Issued: 3.78m
  • Volume: 4,409
  • Market Cap: £3.59m

Biome Technologies shares surge after decent September quarter

By Josh White

Date: Thursday 10 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Bioplastics and radiofrequency technology firm Biome Technologies reported revenues for the September quarter in line with expectations at £1.9m, up 77% year-on-year.
The AIM-traded company said there was "some catch-up" of revenues delayed from the second quarter in both divisions, as anticipated.

That took group revenues for the nine months ended 30 September to £4.3m, compared to £3.6m in the same period last year.

The group said it had a cash balance as at 30 September of £0.5m, down from £0.7m at the end of June and £1m a year earlier, with no bank debt, and access to a working capital facility of up to £0.6m.

Looking ahead, Biome announced a change to forecasting methodology which it said would, given the current economic climate, provide a "more consistent basis" by which the performance of the company could be judged.

"This change to methodology has resulted in a marginal reduction in the board's view of full year revenues for 2022, but no change to its view of loss before interest, depreciation, amortisation and share option charges or anticipated 2022 year-end cash," the directors said in their statement.

Their view of expected financial performance in 2023 was also unchanged.

"The board has sought to provide investors with as clear a view as possible on its expectations for the company.

"Whilst the expected growth rate in the bioplastics division has not taken place in 2022, there are encouraging signs from the uptick in demand from the large opportunity we have been pursuing for some time; growth from the broadened customer base and the portfolio of scale opportunities that the division has been developing.

"The market continues to demand highly functional bioplastic materials and the company is in a good position to deliver these."

At 1420 GMT, shares in Biome Technologies were up 58.02% at 79.8p.

Reporting by Josh White for Sharecast.com.

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BIOM Market Data

Currency UK Pounds
Share Price 95.00p
Change Today -5.00p
% Change -5.00 %
52 Week High 175.00
52 Week Low 82.00
Volume 4,409
Shares Issued 3.78m
Market Cap £3.59m

BIOM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
2.38% below the market average2.38% below the market average2.38% below the market average2.38% below the market average2.38% below the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
35.09% below the market average35.09% below the market average35.09% below the market average35.09% below the market average35.09% below the market average
31.43% below the sector average31.43% below the sector average31.43% below the sector average31.43% below the sector average31.43% below the sector average
Income Not Available
Growth
35.36% below the market average35.36% below the market average35.36% below the market average35.36% below the market average35.36% below the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average

BIOM Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
15:46 663 @ 90.00p
15:43 500 @ 98.00p
15:43 33 @ 90.00p
15:43 1,097 @ 90.13p
15:40 19 @ 90.00p

BIOM Key Personnel

CEO Paul Mines

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