Plant Impact concentrates on crop nutrients

Date:07-06-2011

Plant Impact, which develops and markets ecologically friendly crop nutrition and protection products, has announced its preliminary results for the year ended 31 March 2011 which showed an increase in turnover to £1.748m., compared to £1.411m. in the previous year.

However, losses increased to £1.886m. In the previous year the company made a loss of £1.685m.

Cash during the year dropped from £2.895m. to £1.173m.

David Jones, Chairman of Plant Impact, commented: "The past year can be characterised as one of determined implementation of the Pi crop nutrient strategy. Choices were made to focus on two commercialised products; InCa and PiNT in crop sectors in which we believe show the greatest promise. Sales nearly doubled in the year.

"On the other hand, the vagaries of the pesticide registration process in the UK and USA, delayed an important Arysta Life Science (ALS) BugOil milestone which led to an overall shortfall on expected revenue.

"Overall, I am satisfied that the commercial progress we made with the two nutrient products in the year is confirmation that our direct selling and partnering strategy is working and will provide the platform for growth. Meanwhile, scientific characterisation of our pipeline has confirmed prospects for Alethea and a continuation of innovation."