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Plant Impact

  • BY: Andrew Hore |
  • POSTED: 04/03/2014 |

Crop productivity improvement products developer Plant Impact says revenues more than trebled in the first half of the financial year. 

In the six months to January 2014, revenues rose from £350,000 to £1.16m. The interim loss has declined from £800,000 to around £500,000. There was £500,000 in the bank at the end of January 2014 and management believes that the cash figure will increase in the second half. 

Trading has improved because of the launch of new product Veritas for use with soybeans in Brazil - the growers are achieving increases in yields. This offset a decline in sales to Egypt. 

The European growing season is in the second half and fruit and vegetable crops in Europe are the current focus for the company.

Plant Impact recently replaced nominated adviser and broker WH Ireland with Peel Hunt.

Plant Impact has changed its year end to July. The interims will be reported in April.

At 17p a share, up 1p on the day, Plant Impact is valued at £11m. Last July, £854,000 was raised from a subscription by Fidelity at 23.5p a share.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFFebruary2014_53.pdf

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