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Symphony Environmental believes its products are more relevant than ever as it celebrates 25th anniversary

Independent testing of its anti-microbial technology D2P as an anti-viral barrier is ongoing

Symphony Environmental Technologies PLC -
Revenues for the quarter increased 56%

Symphony Environmental Technologies PLC (LON:SYM) chief executive Michael Laurier has said the coronavirus crisis has highlighted the importance of the company's anti-microbial plastics range.

In a trading statement, Laurier said: "This week marks the 25th anniversary of the formation of the Symphony Group. Our technologies provide the ability to protect lives through our anti-microbial d2p products and also help preserve our planet through our d2w oxo-biodegradable products, which reduce the impact of plastics on the environment.”

Laurier noted that the new trading year has started strongly for the group, with revenues for the first quarter ended 31 March 2020 increasing by 56% to £2.4mln though adding that it was impossible to asses yet how the coronavirus crisis would affect 2020 numbers.

Symphony's cash at end-March was £1mln and on current forecasts the company does not expect to need any additional cash in the next 12 months.

Independent testing of its anti-microbial technology D2P as an anti-viral barrier is ongoing, Laurier said, and will determine if it can be effective in a wide range of plastic products.

Satisfactory test results would enable d2p treated products to be sold to a wider market, the group said in the statement.

Tests specifically against coronavirus (COVID-19) will start as soon as independent laboratory capacity becomes available, Symphony added.

The company noted approval of d2p for use in bread packaging in the US is now on the Food & Drug Administration’s official website with some manufacturer trials now underway.

Quick facts: Symphony Environmental Technologies PLC

Price: 12.25 GBX

AIM:SYM
Market: AIM
Market Cap: £20.83 m
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