UK's Biome Technologies rises on contract win

Biome Technologies

22/06/2023 09:03

** Shares of Biome Technologies  BIOM.L  rise as much as
16.9% to 149p, their highest level since May 2
    ** Co says its Stanelco RF Technologies division awarded
contract worth 452,000 pounds ($576,616.40)
    ** Says contract to supply a novel induction furnace
system to a global manufacturer of scientific glass products
    ** Completion of project expected in FY 2024 with
the possibility of some revenue being recognised in 2023
    ** Says stage payments will be received against milestones
during contract
    ** Stock set to post best day since April 25, if trend holds
    ** Stock currently up 11.3%, taking YTD gains to about 91%

($1 = 0.7839 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))