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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 £3.4 million from £2.5 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 £1.2 million from £1.4 million.
Administrative expenses widen to £2.7 million from £2.2 million. Share based payments quintuple to £640,597 from £120,380. 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%
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