SEED Innovations Ltd (AIM:SEED, OTC:FFRIF) noted that its investee, Little Green Pharma Ltd (ASX:LGP) (LGP), reported a 94% jump in interim revenue.
"It is very encouraging to see the progress that LGP has made in its latest reported interim report for the half year ended 31 December 2021, continuing to achieve strong financial growth with revenue reaching A$7.3mln, almost doubling compared to the previous corresponding period,” said Alfredo Pascual, vice president of investment analysis at SEED.
"We must note the positive operational and research related milestones reported by LGP within this period, including the grant of the first local registration for cannabis medicines in Denmark and most recently being awarded an Italian government tender to supply cannabis flower into Italy."
"This progress lays the path for further expansion into other territories, as the board of LGP have alluded to, and we believe will further add value to shareholders,” he said.
SEED has a 3.1% stake in LGP.