StockMarketWire.com - Symphony Environmental Technologies said its full-year trading loss will be materially higher than £1.1 million thanks to a revenue slump in December.

The advanced plastics technologies firm had said on Dec. 5 that it expected a trading loss of £1.1 million, but revenues for that month were significantly less than expected.

"As such the trading loss for the year will be materially higher than £1.1 million," the company said in a trading update.

It said revenues for the full financial year to end-December were about £4.9 million, from £8.5 million a year earlier.

"The Directors believe that the fall in revenues and increased trading loss is principally a result of delays to a number of new large potential territories from which initial d2w additive sales were expected," the company said.

"As such, they regard this as a matter of timing as initial shipments for these new territories are now expected during the first quarter of 2013," it said.

"Following the statement in December, the group has received initial orders from three of the new territories with positive indications of interest for future sales, albeit the timing is not yet confirmed."

Additionally, the company said there was a delay in shipments to some existing territories around the year-end period.


At 8:29am: [LON:SYM] Symphony Plastic Technologies share price was -0.5p at 2.88p



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