Eden Research sees losses deepening despite sales boost
Source - SMW
Chemicals group Eden Research said it expected to post a 48% increase in annual revenue, though it warned losses would deepen as it developed its product portfolio.
Revenue for the year through December was expected in the region of £2.8m, while pre-tax losses would amount to around £1.0m, compared to £0.8m of losses on-year.
The company had cash at year end of around £2.5m.
Eden Research is developing and marketing products for the global crop protection, animal health and consumer products industries.
'We are pleased with the overall performance of the business in 2018 and believe that we have established an excellent platform from which we can continue to grow both in 2019 and, importantly, the medium and long term,' chief executive Sean Smith said.
At 3:02pm: (LON:EDEN) Eden Research plc share price was -0.75p at 11.5p