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Biome Technologies confident of meeting expectations

Last updated: 02:41 04 Nov 2014 EST, First published: 03:41 04 Nov 2014 EST

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Plastics specialist Biome Technologies (LON:BIOM) told investors it is confident of meeting market expectations for the year.

The company today revealed revenues of £0.5mln for the third quarter, to September 30, compared with £0.6mln in the same period of 2013.

It gives Biome a nine month revenue tally of £2.8mln, up some 85% from the £1.5mln it generated in the first three quarters of last year.

At the end of September Biome has £2.8mln of cash.

Despite the apparent strong nine month performance Biome said that third quarter revenues were down on the two preceding quarters due to reduced offtake to the single-serve coffee market in the United States as a major ran-down stock ahead of re-launching products.

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