Eden Research posts growth in Half Yearly Report

By Tom Kilkelly

2 October 2023

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Milton Park-based Eden Research, the company focused on sustainable biopesticides and plastic-free formulation technology, has posted reports of encouraging growth in its Half Yearly Report.

Revenue for the period was £1.14 million, an increase of £0.1million on the £1.04 million posted at the same time last year.

Sales were up £0.08 million, going from £1.01 million to £1.09 million between H1 2021 and H1 2023. The firm has also reported that it expects to meet market expectations for product sales revenue and EBITDA this year.

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Highlights reported by Eden include the successful firm Capital Raising of £1.1 million, Minimum Conditional Capital Raising of £7.9 million and Retail Offer of £0.4 million, all before expenses - all of which were announced in July 2023.

Lykele van der Broek, Chairman of Eden Research, said: "It was with great pleasure that in May this year we were finally able to announce, in conjunction with our partner Corteva Agriscience ("Corteva"), the development of our new bird repellent, seed treatment product Ecovelex.

''The Board of Eden considered very carefully the right approach to ensure the future viability and growth prospects of the business and it was concluded that, with the much-appreciated support from institutional and retail shareholders, strengthening the Company's financial position through a fundraise was the right course of action.

''From this new position of strength, we can now expeditiously develop and commercialise our products which, the Board believes, will, on balance, substantially benefit the Company and its shareholders."

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.