Agronomics Limited has announced its annual audited results for the year ending June 30, 2023. The company's net asset value per share (NAV) at the end of the period was 16.94 pence, representing a 14% increase from the previous year. The net operating profit for the year was £25,746,348, while the net profit after taxation and fees was £22,373,676. The company's investment income, including net unrealized gains, was £29,703,324. The carrying amount of invested assets increased by 49% to £141,773,297. Cash and cash equivalents stood at £28,093,984, and total assets were £170,203,091.
In terms of operational highlights, Agronomics led four funding rounds during the year. This included the Series A round of All G Foods, a precision fermentation company based in Australia, and the seed round of Clean Food Group, which develops a bio-equivalent palm oil alternative using microbial fermentation. Agronomics also led the seed financing round of Liberation Labs, a precision fermentation contract manufacturer, and the seed financing round of HydGene Renewables, which engineers microorganisms for hydrogen production.
In the post-period, Agronomics invested €4 million in Meatable's Series B financing round to help scale its production processes and accelerate its commercial program. The company also invested in BlueNalu's Series B round, which raised US$33.5 million to support the scaling and commercialization of sustainable seafood products.
Jim Mellon, Chairperson of Agronomics Limited, expressed satisfaction with the company's growth and progress in the field of cellular agriculture. He highlighted the significant intrinsic value within the company's portfolio and its ability to identify attractive opportunities in the market.
The company will be holding its Annual General Meeting (AGM) on February 8, 2024, and shareholders are encouraged to exercise their voting rights by completing the voting proxy form. Shareholders can also submit questions to the Company Secretary prior to the meeting. The full audited report and financial statements for the year ending June 30, 2023, will be available on the company's website.