3rd Jun 2015 08:03
LONDON (Alliance News) - Agricultural bioscience company Plant Impact PLC on Wednesday said it anticipates its full-year results will be in line with its expectations as revenue increased year-on-year in the first nine months.
Plant Impact said revenue in the third quarter of its financial year to the end of April was GBP0.6 million, flat year-on-year, but the group said its revenue for the nine months to the end of April was GBP3.1 million, up from GBP1.7 million a year earlier. It said it expects modest growth in Europe to the end of its financial year in July and anticipates its full-year results will be in line with its predictions.
The company said its net profit for the nine months was GBP0.1 million, compared to a GBP0.8 million net loss a year earlier.
The group said it has seen good orders for 2015/16 Brazilian soy season and has kicked off a marketing campaign targeting Brazilian dry bean growers.
Plant Impact also has started a multi-year investment programme focused on developing and launching new crop enhancement products, including additional Brazilian soy products, further investment in its wheat portfolio, and plans to build a presence in other Latin American markets and in the US.
"I am delighted to announce another successful period for Plant Impact. The implementation of a multi-year investment programme marks another exciting step taken for the company and one that seeks to contribute further to its progress," said Chief Executive John Brubaker.
Shares in Plant Impact were down 2.3% to 63.50 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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