Recyclable plastics group Symphony Environmental Technologies plc (LON:SYM) moved into profit in its latest half year as the benefits of a cost-cutting programme started to show through.
Revenues in the six months to June dipped to £3.23mln (£3.42mln), but costs were reduced by £342,000 which enabled the group to post a profit of £19,000 (loss £181,000).
Symphony added that over the full year its cost programme will save around £750,000.
The group has also picked up its first order for its d2p anti-microbial plastics range.
An initial order and letter of credit for US$160,000 has been received for a new application, while ten more consumer products are in the process of being developed.
Most of the first half sales came from its established oxo-bidegradeable controlled-life plastic range of additives and finished products.
A number of other projects are moving closer to the commercial phase.
The company added Brexit has been beneficial with the pound dipping against the euro and other currencies, though it was too early to quantify the exact impact.
“The board are confident, however, that the second half of this year will be at least similar to the first half.”