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Eden Research

  • BY: Andrew Hore |
  • POSTED: 20/05/2013 |

Natural pesticides developer Eden Research says that the EU has approved the three main active ingredients in its main product.

This means that the 3AEY product can go on sale in Kenya for the cut flower market and Eden can apply for product registration in the EU. Kenyan royalties could reach $100,000 a year.

It will take until early 2015 before there are any sales in the EU.

House broker WH Ireland believes that Eden should move into profit in 2015. A profit of 1.1m is forecast on revenues of 2.1m.

At 13.62p a share, up 4.88p, Eden is valued at 16.8m.The shares are trading on 15 times forecast 2015 earnings.

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