Previously writing on Biome Technologies (BIOM), on a January trading update I wrote ‘looks forward to providing a further update with results in April’. Should it be?. So what of today that update and results?
Hello Share Movers. Despite detractors among some of my colleagues on this mind-blowing site, including the fiendishly analystic Steve Moore, I renew my support for a company that makes plastic substitutes. Biome Technologies (BIOM) had a torrid time of late, plunging 170p to 46p last month. However, the shares rocketed by as much as 100% this week, later dropping back to about 60%. There aren't many shares that put on even 10% these days.
Bioplastics and radio frequency technology company Biome Technologies (BIOM) has issued a trading update commencing that “Group revenues for the quarter ended 30 September 2022 were in line with management expectations at £1.9m and were 77% ahead of the similar period last year” and including “encouraging signs from the uptick in demand from the large opportunity we have been pursuing for some time; growth from the broadened customer base and the portfolio of scale opportunities”. What though of a share price currently up approaching 50% on the announcement to 75p?
Previously writing on company which described itself as “a leading bioplastics and radio frequency technology business” Biome Technologies (BIOM), earlier this month with the shares at 175p I noted suggested financial stress – it will be interesting to review the 22nd September-scheduled half-year results detail and balance sheet and, ahead of that, avoid. The shares last closed at 170p and now the half-year results.
Describing itself as “a leading bioplastics and radio frequency technology business”, Biome Technologies (BIOM) has issued a “Grant funding from Innovate UK” announcement including emphasising that it is “to support a collaborative development project with ANPOLY Inc of South Korea to improve shelf life performance of food packaging… could represent an important addition to the business's product range in due course and will bring benefits to manufacturers, consumers and the environment”. So what’s the detail?
Hello, Share Scratchers. It’s likely many green shares will be boosted in the glare of the imminent global warming shindig in Glasgow. So it’s a good time to review Biome Technologies' (BIOM) bioplastics division. This company makes plastic substitutes from plants, cutting out the carbon element. One of its promising products is throwaway coffee cups which biodegrade. But let’s look at another exciting avenue for the company.
Hello, Share Scrapers. One of my babies has had an unforeseen set back. Biome Technologies (BIOM) had just shed about a third of its value on an admission that one of its main clients has fallen short of expectations. However, the reaction seems overdone and as I write the share price is now 20% down.
Previously writing on bioplastics and radio frequency systems company Biome Technologies (BIOM), in April with the shares at 350p I concluded ‘assembling the drivers for growth’ and enquiries are very different to the delivery of profitable growth and the market cap here is still above £13 million. As such, at this juncture, still only on my watchlist. The shares last closed at 480p but are currently slumping back towards previous levels on the back of a trading update. So what’s happened?...
Hello Share Takers. There’s hardly a day passes without news about the Big Green Wave. It’s a sure sign of change when governments are seen to be doing their best to clamber on the alternative energy bandwagon. Now, for example, Whitehall has announced that it will impose a legally-binding target for 2030 to drive action to halt the decline of nature.