Biome tops 2017 revenues in just nine months

Biome Technologies saw revenues rise more than 50% in the first nine months of its trading year, eclipsing the group's full-year revenues from a year earlier.

Biome, which develops both natural plastics and radio frequency systems, told investors that revenues increased 56% to £7m for the nine months ended 30 September - with third quarter revenues alone jumping 73% to £2.6m.

The AIM-listed outfit also revealed that year-to-date revenues of £6.2m had already exceeded its full-year results from 2017, with 78% of revenues coming from its RF division thanks to an "exceptional" demand for fibre optic furnaces which caused revenues to nearly double to £2m from the £1.1m reported a year earlier.

Biome said it had also made an underlying profit in the third quarter.

Looking forward, Biome expects the momentum experienced in the third quarter to continue into the remainder of its trading year.

As of 1100 BST, Biome shares had shot up 9.52% to 690p.