29th Jan 2016 10:00
LONDON (Alliance News) - Plant Health Care PLC said Friday it performed in line with expectations in 2015, with revenue rising 9%, although growth was somewhat constrained by the weakness of the Mexican peso.
At constant currency, revenue growth for the year was around 15%.
Plant Health care provides biological products for the agricultural market.
The company said that sales of its core Harpin products for protection against plant disease rose 22%, driven by strong sales in the US and Europe. It reported an increase in gross margin to 62% in 2015, compared to 51% in 2014.
Plant Health care said it will report a widened loss of USD7.3 million in 2015 compared to a loss of USD6.1 million in 2014, as a result of a significant increase in research and development investment.
Shares in Plant Health were untraded Friday morning. They last closed at 79.28 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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