Business
Half-year Report - Replacement
Half-year Report - Replacement.
About this update from Eden Research Plc
[{"type":"text","content":"\n \nRNS Number : 2536S Eden Research plc 29 September 2017 \n\n \n \nThe following amendment has been made to the 'Half-year Report' announcement released on 29 September 2017 at 7:00 am under RNS No 1717S.\n \nThe sterling figure in the first bullet of the Business highlights section of the RNS should have read £0.5m instead of £0.7m.\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \n \n29 September 2017\n \nEden Research plc \n \n(\"Eden\" or \"the Company\")\n \nHalf Yearly Report\nEden Research plc (AIM: EDEN), the AIM-listed company that provides breakthrough biocontrol products and natural microencapsulation technologies to the global agrochemicals, animal health and consumer products industries, announces its interim results for the six months ended 30 June 2017. \nFinancial highlights\n \n· Revenue for the period increased to £1.03m (H1 2016: £0.11m)\n· Operating Profit for the period increased to £0.21m (H1 2016: loss of £0.86m) \n· Cash and cash equivalents of £3.66m (H1 2016: £2.01m)\n· Strategic investment of £2.2m by Sipcam and placing of £0.2m (gross) to institutional investors\n· Expanding investment in regulatory clearances unlocking commercial potential in new, important territories\n \nBusiness highlights\n \nCommercial, Regulatory and IP:\n· Multiple commercial agreements signed with Sipcam SpA (Sipcam) including an Evaluation and Option Agreement for which a fee of €0.6m (£0.5m) was paid to Eden, establishing a long term collaborative partnership\n· EU approval of Eden's first agrochemical, fungicide product, 3AEY, gained in France and first commercial sales achieved \n· Further EU approvals received in Cyprus, Albania and Portugal (post period end)\n· Label extensions received in Kenya now include authorisation for the treatment of roses\n· Extension of 3AEY patent protection in Spain, Greece and Cyprus and nematicide patent granted in US\n· New terms agreed with University of Massachusetts Medical School (\"UMMS\") for licence to next-generation technology\n \nOperational highlights:\n \n· Lykele va...