31st May 2022 12:00
Eden Research PLC Oxfordshire-based sustainable crop protection and animal health firm - Posts a higher annual loss as expenses rise. Pretax loss in 2021 widens to GBP3.4 million from GBP2.5 million in 2020. "The pace with which we had initially hoped to accelerate our development was hampered by the Covid-19 pandemic which brought a high degree of uncertainty globally," firm explains. Revenue shrinks to GBP1.2 million from GBP1.4 million.
Administrative expenses widen to GBP2.7 million from GBP2.2 million. Share based payments quintuple to GBP640,597 from GBP120,380. Firm proposes no dividend. Company expects approval from the US Environmental Protection Agency for its core products.
"Our recently obtained approvals across a number of geographies will allow Eden to materially grow its revenues in the 2023 growing season and beyond," the firm adds.
Current stock price: 4.47 pence, down 3.9% on Tuesday
12-month change: down 61%
By Tom Budszus; [email protected]
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