Welcome
Our aim in presenting this website is to provide a broad picture of who we are and what we do. Whilst we hope that this has been successfully achieved, we welcome every opportunity for direct contact with everyone interested in us and we therefore actively invite you to contact us if you feel this could be helpful to you.
This website is focused on our Corporate activities and includes links to other websites of ours, namely www.degradable.net - which provides broad, international, information to totally degradable plastics and www.symphonyplastics.co.uk and www.degradable.co.uk - which both link to a single website providing information relating in particular to our UK sales and marketing activities. Please also visit our waste-to-energy website at www.symphonyenergy.co.uk, this division is in its infancy but is working with others to produce commercially viable machines to convert waste tyres and plastics efficiently into valuable products.
Highlights from Symphony’s 2008 full year results:
Group result - including non-recurring items
- Revenue increased by 42% to £5.36 million (2007 £3.78 million)
- Gross profits increased by 190% to £2.37 million (2007 £0.82 million)
- Gross profit margins increased to 44% (2007 22%)
- Significantly decreased operating loss to £0.15 million (2007 £1.88 million)
- Loss before tax decreased to £0.40 million (2007 loss £1.95 million)
- Recognition of £0.72 million tax credit (2007 £nil)
- Profit after tax of £0.37 million (2007 loss £1.91 million)
- Basic earnings per share 0.35p (2007 loss per share 2.31p)
- Number of d2w® distributors increased from 15 to 45.
H2 comparison to H1 (before non-recurring items)
- H2 revenues increased by 33% to £3.06 million (H1 £2.30 million)
- Operating profit £0.05 million (H1 loss £0.15 million)
- H2 gross profit margins increased to 46% (H1 42%)
Michael Laurier, Chief Executive, commented:
"I am pleased to report a very positive set of results, with a close to break-even operating result and all underlying trends moving materially in the right direction. This year’s results show Symphony’s first positive earnings per share, and the trading performance was the most significant in the Group’s history being marked by a maiden post tax profit.
"With a strong distribution network and brand, low costs and a developing global need to resolve the issues of plastic pollution, we believe that 2009 will show further positive results. Our markets are underpinned by an increasingly strong legislative background which continues to support a need for our products.
"Current trading is ahead of our expectations and as a result we look forward with confidence to a year of further financial improvements."