StockMarketWire.com - Biodegradable plastics developer Symphony Environmental Technologies swung to a small first-half profit after boosting sales.

Pre-tax profit for the six months through June amounted to £18k, compared to a loss of £86k on-year. Revenue rose 17% to £4.8m.

The company did not declare an interim dividend.

'As advised in July, some of Symphony's main distributors experienced severe Covid-19 lockdowns, which delayed growth in those countries during the second half of this reported period,' interim chairman Nicolas Clavel said.

'In this context, we are pleased with the group's like-for-like revenue growth during the first half of 2020.'

Separately, Symphony Environmental said it had received positive bovine coronavirus test results on its d2p antimicrobial technology.

'The full test report has now been received and has therefore enabled our distributors and sales teams to move forward on this with their customers, both existing and new,' Clavel said.

'Symphony's d2p products and technologies cover many applications including PPE, food packaging and water and irrigation piping.'

'Unsurprisingly, given Covid-19, enquiries have increased significantly for antimicrobial d2p in PPE and other products and as previously reported, we expect to deliver approximately £1.0m of such products in the second half of the year.'


At 8:04am: [LON:SYM] Symphony Environmental Technologies PLC share price was +7.4p at 29.9p



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