Symphony Environmental Technologies PLC (AIM:SYM) said several key deals are “now finally nearing closure” as it provided an assessment of prospects alongside its prelims.
“Individually, each is material to the business but collectively would be transformational,” it told investors.
The group specialises in technologies that make plastic and rubber products smarter, safer and sustainable.
In the year to December 31 2021, its revenues were £9.16mln, down from £9.77mln 12 months earlier. In part, this was down to missing the shipping cut-off for a £500,000 order. The loss before tax widened to £1.53mln.
Symphony said it is currently faced with high shipping costs and potential delays.
It added that some raw material expenses had been reduced so far in 2022, “but this again may become affected by the current global uncertainties”.
“Current trade has started to improve following a slow start to the year, and as set out above, tangible progress is continuing to be made with our pipeline of development projects,” it added.