RE: Great update7 Nov 2024 09:31
A good update from the Company this morning with more detail on product performance than I can recall previously.
The revenue growth is very slow though, from 3.2 mill in 23, to a forecast 5 mill in 2025.
Good that no new funding is required and that product development and regulatory costs are likely to peak soon.
I remain disappointed with the product sales growth (given the hype) and the reliance on outside factors to drive sales which the Company cannot influence.
Whilst the insecticide has great potential it will be 3-5 years before it drives meaningful numbers.
Agriculture is clearly a very conservative industry when it comes to product innovation with considerable loyalty to established players, which is only shaken by regulatory action (banning) or a step change in performance.
I invested here in part to support the move away from harmful chemicals in the food change and will continue to hold, but I wished I'd realised how long a journey this would be!