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Corporate
Stanelco reports succesful half year
The British Stanelco has reported a succesful first half year with sales up 92% to £7.4m (2007: £3.9m), strong progress achieved in developing sales leads in BioPlastics division and biotec joint venture experienced volume growth of 87%.Paul Mines, Chief Executive said: “We are very pleased to see the results of the efforts made over the past six months to focus the business into two distinct divisions to improve product commercialisation. This has been achieved through strengthening our sales teams and increasing the number of customer trials we have been conducting.
“By broadening our customer base, we are able to drive product innovation and develop concepts to match our markets. We are pleased to report growth in the first six months of this year and are confident in the outlook for the full year.”
John Standen, Non-executive Chairman said:
“We are continuing to look for compatible and sensible investment opportunities to gain greater momentum for our strategy and provide shareholders with a better return on the value within the Group.
“We believe the second half of the year will underline the progress we have made in the first half of the year. “
