StockMarketWire.com - Smart plastics group Symphony Environmental Technologies posted a substantial rise in profit after it boosted sales.

Pre-tax profit increased by to £0.43m, up from £0.12m in 2016, as revenue increased by 21.6% to £8.27m.

'Throughout the year we have explained to governments, potential customers and NGOs the benefits of using our growing range of technologies,' chief executive Michael Laurier said.

In particular, the company drew attention to its d2w oxo-biodegradable plastic, which it claimed can help to solve the problem of persistent plastic pollution.

'Most of our revenues still derive from d2w and are earned mainly outside of the EU and the US,' Laurier said.

'We expect to see an improving business environment where more countries legislate in favour of our type of technology, and with better enforcement in countries where legislation has already been passed.'


At 9:45am: [LON:SYM] Symphony Environmental Technologies PLC share price was +1.13p at 16.63p



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