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Wednesday's agenda: Biome Technologies under the spotlight with results

Published: 13:27 02 Sep 2014 EDT

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Wednesday brings the half year results of bioplastics and radio technology specialist Biome (LON:BIOM) with investors keen to see whether the firm believes the positive momentum of the first half can be maintained in the second.

In July, in a trading update, traders cheered after the group said it had seen better than expected performance in both divisions.

In the same month a first order was unveiled - following division Stanelco RF Technologies' work with Durapipe UK for portable induction welding systems.

The order was for 10 pre-production units for a total value of £0.1mln to be delivered in the fourth quarter.

Group revenue in the six months to end June was £2.3mln, which is better than the figure for the whole of 2013.

Second quarter revenue came it at £1.2mln compared to £0.5mln in the same quarter last year.

At the Stanelco RF Technologies division, ordering levels in the first half have been encouraging with some evidence that the market for fibre optic furnaces is recovering in Asia, the firm said.

Revenues at the business for the first half were £1.2mln - now in excess of the revenues achieved by this division for the full year 2013.

Broker Daniel Stewart described the statement as strong and rated the shares a 'buy' targeting  484p for the shares. Shares closed Tuesday (Sep 2) at 180p each.

Significant announcements expected:

Companies: Finals: Hargreaves Lansdown (LON:HL.), Mucklow (A & J) Group PLC (LON:MKLW). Interims: Ashtead Group (LON:AHT), Biome Technologies (LON:BIOM), Belgravium Technologies (LON:BVM), Goals Soccer Centres (LON:GOAL), Safestore Holdings (LON:SAFE). Trading Statement: Safestore Holdings (LON:SAFE).

The following widely held stocks will be trading in ex-dividend form: Robert Walters, Shire, TUI travel, Aviva, ARM Holdings, Greggs, esure

Economic: UK: BRC Shop Price Index, Services PMI. EU: Spanish Services PMI, Italian Services PMI, Final Services PMI, Retail Sales, Revised GDP. US: ADP Non-Farm Employment Change, Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders, Beige Book.

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