31st May 2022 12:18
Emmerson PLC - Isle of Man-based potash development company - Pretax loss widens to USD2.8 million in 2021 from USD1.9 million in 2020. Does not report any revenue as it is in the pre-construction phase of its business. Administrative expenses double to USD2.3 million from USD1.0 million. "The fair value of goods or services received in exchange for shares is recognised as an expense and included within administrative expenses," company explains.
Looking ahead, Chair James Kelly cautions "Just as the world was cautiously beginning to emerge from the restrictions related to Covid-19, the war in Ukraine has unleashed a fresh set of challenges, the full impact of which are not yet known but will most likely affect us all for a considerable period of time."
Current stock price: 8.78 pence, down 3.5% on Tuesday
12-month change: up 69%
By Tom Budszus; [email protected]
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