Symphony Environmental profits to exceed expectations

Symphony Environmental Technologies, which specialises in plastic technology, expects profit before tax for the year to 31 December 2017 will be significantly higher than current market expectations, and not less than £400,000, up from £123,000 in 2016.

This is due to the operational gearing of the group.

Revenues will be approximately £8.2 million, up from £6.8 million a year ago, which is marginally above market expectations.

The group had net cash in the bank of £621,000 as at 31 December 2017 compared with net borrowings of £371,000 a year ago.

Michael Laurier, chief executive, said: "We are pleased with the continuing progress the group has made during 2017 where it has achieved growth in profitability and strong cash generation and look forward to 2018 with optimism."