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AGM Trading Update

9th Dec 2016 07:00

RNS Number : 3779R
Plant Impact PLC
09 December 2016
 

For Immediate Release 9 December 2016

Plant Impact plc

("Plant Impact", the "Company" or together with its subsidiaries, the "Group")

AGM Trading Update

Strong start to year - trading in line with expectations

Plant Impact plc (AIM: PIM), which leads research and development in crop enhancement technology to create products that growers can rely on to increase the yield and quality of their crops, will hold its Annual General Meeting today at 9.00am.

Ahead of the Annual General Meeting, the Group announces the following trading update for the three-month period ended 31 October 2016.

First Quarter Trading

The Directors are pleased to report that the Group has made a strong start to its FY17 financial year. Revenue and profit for the quarter were in line with the Board's plans and consistent with achieving full-year expectations.

As planned, the majority of Q1 sales were for Veritas®, the Company's flagship soybean crop enhancement product, with shipments to both Brazil and Paraguay timed for the 2016/17 growing season. The Company has also received further committed orders for Veritas® for shipment during the remainder of the season. Taken in conjunction with product already shipped, the volume of sales of Veritas® to Brazil over the entire growing season will meet expectations.

Plans for other products and regions remain similarly on track at this early stage of the year.

John Brubaker, Chief Executive Officer of Plant Impact, commented:

"This financial year is an important and exciting one for Plant Impact. Our Veritas® campaign to support soybean growers in Brazil through the 2016/17 growing season is well underway, and spraying of the product is just starting. In addition, we are making progress on our expansion into soybean markets in Argentina and the US and in West Africa with Banzai, our cocoa yield enhancement product."

For further information please contact: 

Plant Impact plc

John Brubaker, Chief Executive Officer

Richard Amos, Chief Financial Officer

Ailish Tracy, Global Communications Manager

 

Tel: +44 (0) 1582 465 540

 

Peel Hunt - Nominated Advisor and Broker

Adrian Trimmings

George Sellar

 

Buchanan - Financial PR

Charles Ryland

Sophie Cowles

Jane Glover

Tel: +44 (0) 207 418 8900

 

Tel: +44 (0) 207 466 5000

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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