Interim Results

The results for the six months to 31 December 2008 reflect the generally lower levels of activity that we report at this time of year. The Board is concentrating on implementing cost reductions and developing strategies to bring our portfolio of agricultural assets through to production as quickly as possible so as to increase cash flow. The main highlights of this report are as follows:

*Loss before interest and tax of £2,247,933 (2007: loss £764,237)

*Net assets of £6,573,247 including £1,852,708 in cash

*Net debt as at 31 December 2008 was £12,519,822

Management's primary focus in the current period is cost reduction and consolidation. We intend to improve net cash earnings by continuing to manage carefully the Company's costs base and working with management to improve valuations on all projects, and bring forward cash flows wherever possible.

Radicle has a number of developments in progress which we believe will contribute to higher profits. We will report to the market as these initiatives come to fruition.

Despite the current world economic climate, agricultural products are very much in demand and Radicle is well placed to capitalise on its strength in this area. We look forward to making further significant advances in the business and to providing increased shareholder value.

A full copy of this report is archived in the PUBLICATIONS section of this website.