Biome Technologies (GB:BIOM) has released an update.
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Biome Technologies reported a 12.7% increase in group revenues for 2023, reaching £7.0m, driven by significant growth in their Bioplastics division. Despite challenges, including a decline in RF Technologies division revenues and an adjusted group loss, the company secured key contracts expected to contribute to 2024 revenues. The firm also managed its finances through convertible loan notes while maintaining a cash position of £0.6m with no bank borrowings.
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