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Fashion & brands

Symphony Environmental upbeat on sales potential

Plastics and environmental firm Symphony Environmental Technologies is upbeat about the group's future sales potential....

Plastics and environmental firm Symphony Environmental Technologies (LON:SYM) is upbeat about the group's future sales potential globally.

Speaking at today's AGM, chief executive Michael Laurier said: "Further to statements made in our 2014 preliminary results announcement on 13 April 2015, the company continues to generate momentum in all operating parts of the business."

He added that the d2w technology, which produces biodegradeable plastics, was expanding into new markets, while product trials and order negotiations continue for the d2p anti-microbial technologies.

"Current trading is so far consistent with 2014 and we remain cautious with the timing of new orders for both d2w and d2p due to the complexities involved with trials, evaluations and the whole decision making process," he told the meeting.

He also highlighted the recent increased holding in the firm by Somerston with a £500,000 investment, which was at a 16% premium to the prevailing share price at the time.

Symphony shares were unchanged at 8.75p

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