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Symphony Environmental Technologies plc says first product listing could be "game-changer"

Published: 14:05 28 Sep 2016 BST

Boss of recyclable plastics group Symphony Environmental Technologies plc (LON:SYM) Michael Laurier said the group was "incredibly encouraged"  by news of a new product listing with a leading UK retailer.
The listing of the d2p finished product is for delivery to the unnamed retailer in early 2017, and could be a  very big "game changer" for the company, he told Proactive's Stocktube team.
"This is the first listing ever that Symphony has had for a d2p product in a major retail group so we are extremely encouraged..," said Laurier.
Earlier the firm said an initial order and letter of credit for $160,000 had been received for a new application in the d2p range.
The firm is "extremely encouraged on these two fronts alone,"  declared Laurier.
The firm's six months to end June showed a move into profit as its cost cutting measures take hold.
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.
Laurier said: "Cost cutting has shown to that its working and the research and development programmes as a result of that, hasn't been affected."

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