9th Dec 2016 07:00
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
|
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