LONDON (ShareCast) - (ShareCast News) - Eco-friendly plastic technology and production group Symphony Environmental Technologies announced on Thursday that it was expecting revenues for the year ended 31 December to be marginally above expectations.
Symphony anticipated revenues would finish the year somewhere in the vicinity of £8.2m, ahead of the £6.8m posted twelve months prior, and that due to the operational gearing of the group, the board was preparing for pre-tax profits to be significantly higher than market expectations at no less than £400,000.

At the end of the full-year, Symphony had net cash in the bank of £621,000, a marked turnaround from the borrowings of £371,000 it held on 31 December 2016.

Michael Laurier, chief executive of Symphony, said, "We are pleased with the continuing progress the Group has made during 2017 where it has achieved growth in profitability and strong cash generation and look forward to 2018 with optimism."

As of 1200 GMT, shares had jumped 12.45% to 14.90p.

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