Interim Results

Plant Impact plc

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

Unaudited Consolidated Interim Financial Statements for the ten months ended 31 January 2013

Plant Impact (AIM: PIM), a plant science innovation company which develops products used by growers to improve crop quality and marketable yield, today announces its unaudited results for the ten months ended 31 January 2013.

Highlights

·; Turnover £757,470 (31 January 2012: £849,153)

·; Gross profit £562,500 (31 January 2012: £528,989)

·; Margins 74.3% (31 January 2012: 62.3%)

·; Operating loss before exceptional £1,185,729 (31 January 2012: £2,049,941)

·; Operating loss £1,275,874 (31 January 2012: £2,438,174)

·; Cash balance £1,685,447 (31 January 2012: £1,249,593)

·; Net cash outflow from operating activities £798,507 (31 January 2012: £1,678,359)

Chairman's Statement

These interims reflect further activity and progress in line with Plant Impact's declared intentions and goals. The move to mid-year annual reporting (achieved fully in the next report covering the period to 31 July 2013) will give shareholders clear and separate visibility of the performance of our European business and the expected growth in sales in the Southern Hemisphere. The additional four months of performance announced today cover a low activity period for the business; prior to the European order season and before the commercialisation of our considerable development work in Brazil. Even so, there is much to commend in these figures. Marketing and R&D has been focused on the most promising opportunities, with resulting expense reduction. Business quality has been markedly improved through price and mix, and cash management has been exemplary, achieved principally through close attention to working capital.

The results of these operational successes are shown in the significantly reduced trading loss compared to the same period in the prior year. This is also a reassuring indication of managerial processes that will underpin performance as sales growth accelerates in the future. Our modest capital raise at the end of 2012 has strengthened the balance sheet sufficient to meet the needs of the business over the coming year. All this has been achieved during a busy period of staff transition and the establishment of a new home for the business at Rothamsted Research in Harpenden.

I am delighted with this progress at Plant Impact. The management team have clearly stated their priorities and set themselves stretching goals which, as these numbers show, are being met. I am also grateful to our customers and partners around the world who have recognised and now support Plant Impact's distinctive approach to this important category in agricultural productivity.

Reason for production of accounts covering 10 month period

On 25 February 2013, the Company announced a change in its accounting reference date from 31 March to 31 July. The Company has made this change in order to more closely align its two six-month reporting periods with the highly seasonal nature of its business. In the future, Plant Impact will report financial performance for each twelve month period ending 31 July and each six month period ending 31 January. These periods very closely link to the Company's shipments, booked revenue, and cash collections for the Northern and Southern Hemispheres. As the Company is working to improve its focus and position in its European markets and expand its business in the Southern Hemisphere (primarily Brazil), the Directors believe this change will produce more meaningful information for shareholders. The 10 month period outlined in this statement is an additional, interim period, which will permit the Company to more quickly provide visibility on a July year basis. It supplements the interim statements for the six month period ended 30 September 2012 with an additional four months of disclosure. The Company expects to release audited results for the 16 month period ended 31 July 2013 on or before 30 November 2013.

Financial Performance

Turnover for the ten month period was £757,470 (2012: £849,153). The ten month result primarily reflects the seasonality and timing of purchases from the Company's distribution customers in the European region. In the 2012 European growing season, the majority of the Company's seasonal volumes were shipped prior to 31 March 2012. In 2011, these shipments were made both before and after 31 March. This seasonality factor was discussed in more detail in the Company's interim accounts for the six month period ended 30 September 2012.

Turnover for the four month period ended 31 January was £246,317 (2012: £239,111). This result is consistent with the Board and management's expectation for the period and reflects the seasonality of the Company's business at the end of the calendar year, at which point shipments to European customers have not yet begun. The Company does not yet have a Southern Hemisphere business, and until such time, shipments in the fourth calendar quarter of the year will remain nominal.

Gross Profit for the ten month period was £562,500 (31 January 2012: £528,989). Gross margins improved to 74.3% (31 January 2012: 62.3%) due to revenue mix and pricing.

Operating Expenses declined significantly to £1,838,374 (2012: £2,967,163). This reduction was due to the Company's re-focus of its operations toward European markets and its re-prioritisation of research projects toward those with nearer-term commercial prospects. Before exceptional charges of £90,145 related to staff restructuring and relocation of the Company's head office (2012: £388,233), Operating Expenses were £1,748,229 (2012: £2,578,930).

Operating Loss for the period declined significantly to £1,275,874 (31 January 2012: £2,438,174). Before exceptional expenses, Operating Loss was £1,185,729 (January 2012: £2,049,941).

Net Loss also declined materially to £1,266,193 (2012: £2,216,145).

The Company's efforts to carefully manage expenses and optimise cash during its recent period of restructuring are reflected in its balance sheet and cash flow figures. Net Cash Outflow from Operating Activities reduced to £798,507 (2012: £1,678,359), a result of more balanced operating expenses and gross profit, as well as thorough management of working capital. This result included a £141,742 pre-payment to Arysta LifeScience Corporation ("Arysta") related to a negotiated restructuring of the Company's May 2011 Marketing Support agreement with Arysta. Under this restructuring, Plant Impact's marketing support of Arysta distribution activities has been converted to a fixed, per-litre mechanism, improving the profitability of Arysta business for the Company in future periods. Excluding this pre-payment, net cash outflow from Operating Activities reduced to £656,765 (2012: £1,678,359). This continued improvement reflects the combined impact of improved gross profit, a re-focus of expenses and detailed management of working capital. The Board believes that management's continued focus on cash flow substantially reduces the operating risk of the business and strengthens the Company's ability to create sustainable growth.

Net increase in cash and cash equivalents was £339,342 for the period (2012: £76,830). Cash outflows from operating activities, cash absorbed by investment, and debt reduction payments of £250,000 related to the Company's BugOil development loan with Arysta were offset by £1,475,102 in net proceeds from the issue of share capital via placing announced on 7 December 2012 and an Open Offer which completed on 7 January 2013. This additional capital will support the Company's Sales & Marketing efforts in Northern Europe, the US Turf Market, our launch in Brazil, and, resources permitting, further Research & Development.

Cash at the end of the period was £1,685,447 compared with £1,249,593 at 31 January 2012.

Current Outlook

There is much to do before the 31 July reporting period closes. The two priorities for our management and partners in this period are achieving sales traction in Europe and converting good in-field product performance with our products in Brazil soya into first sales. We are looking forward to updating our shareholders on the outcome to both of these endeavours.

David Jones

Chairman

19 April 2013

Plant Impact plc

Unaudited Consolidated Income Statement

For the ten months ended 31 January 2013

The Group has no items to be recognised in the "Condensed Statement of Comprehensive Income" and consequently this statement has not been shown.

All results are from continuing activities.

The notes are an integral part of these Unaudited Consolidated Ten Month Results.

Plant Impact plc

Unaudited consolidated statement of financial position

At 31 January 2013

The notes are an integral part of these condensed Unaudited Consolidated Ten Month Results.

Plant Impact plc

Unaudited consolidated statement of cash flows

For the ten months ended 31 January 2013

Notes to the consolidated interim financial statements

 1. Nature of operations and general information

The Group's principal activities include the research, development, manufacturing and sale of crop nutrients and crop pest control products and technologies.

Plant Impact plc is the Group's ultimate parent company. It is incorporated and domiciled in the United Kingdom. The address of Plant Impact's registered office, which is also its principal place of business, is Rothamstead, West Common, Harpenden, Hertfordshire, AL5 2JQ, United Kingdom. Plant Impact's shares are quoted on AIM, a market operated by London Stock Exchange plc.

Plant Impact's unaudited consolidated ten month results are presented in Pounds Sterling (£), which is also the functional currency of the parent company.

These unaudited consolidated half year results have been approved for issue by the Board of Directors on 22 April 2013.

The financial information set out in this unaudited consolidated ten month results statement does not constitute statutory accounts as defined in Section 434 of the Companies Act 2006. The Group's statutory financial statements for the year ended 31 March 2012, prepared under IFRS, have been filed with the Registrar of Companies. The auditor's report on those financial statements was unqualified and did not contain any statement under Section 237(2) of the Companies Act 2006.

2. Basis of preparation

These unaudited consolidated results are for the ten months ended 31 January 2013. They have not been prepared in accordance with IAS 34, Interim Financial Reporting. They do not include all of the information required for full annual financial statements, and should be read in conjunction with the consolidated financial statements of the Group for the year ended 31 March 2012.

The Group's existing financial resources together with contractual arrangements with certain economic partners in different geographical areas provides a sound platform for launching the Group's products and generating future sales and revenues. As a consequence, the Directors believe that the Group is well placed to manage its business risks successfully despite the current uncertain economic outlook.

The Group's forecasts and projections, which have been prepared for the period to 31 July 2014, including sensitivity analysis, and taking account of reasonably possible changes in performance and achievement of certain regulatory milestones, show that the Group should be able to operate within the level of its current cash resources.

After making enquiries, the Directors have a reasonable expectation that the Company and the Group have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the unaudited consolidated ten month results.

These unaudited consolidated interim financial statements have been prepared in accordance with the accounting policies adopted in the last annual financial statements for the year to 31 March 2012.

The accounting policies have been applied consistently throughout the Group for the purposes of preparation of these unaudited consolidated ten month results.

3. Loss per ordinary share

The calculations of loss per ordinary share are based on the following losses and weighted average number of shares in issue during the period:

The exercise of outstanding share options in the periods would have the effect of reducing the loss per ordinary share and are not therefore dilutive under the terms of IAS 33.

Plant Impact plc

Unaudited consolidated statement of changes in equity

For the ten months ended 31 January 2013