Plant Impact’s revenues increased by 68% to £4.2 m in half year

The UK plant health technology company Plant Impact recently announced half yearly results for the 6 months ended 31 January 2016.

Plant Impact’s revenues increased by 68% to £4.2m versus £2.5m in 2015, Profit after tax recorded a 100% increase to £0.4m versus £0.2m in 2015. Cash balance achieved £8.6m versus £0.7m in 2015. Basic EPS increased to 0.55p from 0.32p in 2015.

Several operational highlights was achieved in half year, such as 1) Innovative promotional campaign in Brazil drove expansion of Veritas®, 2) Positive trial results in other major soy growing regions, 3) North America operations established and experienced new Commercial and Marketing Director, USA appointed, 4) First commercial shipments of Banzai™ made to Arysta LifeScience in West Africa, 5) Increased investment in R&D and progress with pipeline soy and wheat products on track.

David Jones, Chairman of Plant Impact, commented: “Our determination to drive sales in Brazil whilst broadening the products and geographies in our soy range has shown results in the first half of the year. Furthermore, our promise to open a new market with large potential that is outside of soy in the Americas and with a different strategic partner, took shape with our first shipments of our cocoa product, Banzai™, to Arysta LifeScience in West Africa. We expect a busy and exciting time through the remainder of the year.”