Improved revenues and a cost-cutting drive helped oxo-biodegradable technology provider Symphony Environmental (Borehamwood / UK; www.symphonyenvironmental.com) post a pre-tax profit of GBP 0.12m (EUR 0.14m) for the year to 31 December 2016 after recording a GBP 2.3m loss in 2015. A strategy review conducted last year had identified areas where costs could be reduced and consequently recurring administrative expenses fell by 17.6% to GBP 3.03m. In addition, revenues in 2016 were 6.8% higher than the previous year, at GBP 6.8m, helped by moves to reduce plastic litter in the environment, the company said.

Nirj Deva, Symphony’s chairman, said the company’s 2016 performance compared well with the loss reported in 2015, boosted by what he called “a substantial reduction in overheads”. During the year, Deva said the group’s oxo-biodegradable additive “d₂w” had continued to generate the majority of its revenues in markets mainly outside of Europe. “The political momentum has been encouraging in several overseas territories where governments aim to resolve the plastic litter crisis, as regularly highlighted in the media. “d₂w remains the only oxo-biodegradable technology to have an Eco-label, a Life Cycle Assessment, and reports on Recycling Studies, Bio-degradation and Eco-toxicity on land and in the sea. d₂w oxo-biodegradable technology fits well with the circular economy as well as overall strategies to improve the environment", he said.

According to Deva, Symphony had also made “significant progress” developing and delivering its “d₂p” ‘designed to protect’ range. The company has now begun commercialising d₂p anti-microbial gloves and d₂p anti-microbial water pipes.