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Biome warned on profit as one of its US customers delayed the deployment of the company's filtration material after suffering unexpected constraint within its factory services.
This 'single delay will have a significant impact on the group's expected growth in the nearer term, ... [and] the board 'now believes that group revenues for the years ending 31 December 2021 and 2022 will be materially below current market expectations,' the company said.
Losses before interest, taxation, depreciation, amortisation and share option charges for the year ending 31 December 2021 will be greater than current market expectations and that the group will make an Underlying LBITDA for the year ending 31 December 2022.
The overwhelming majority of the revenues and development opportunities for Biome's Bioplastics division lie in the United States.
'Whilst the customer has already identified an engineering solution to remove this constraint, it has become clear to Biome that it will now take some months for the customer to design and install the necessary modifications,' it added.