Plant Impact on track to meet annual targets as nine month revenue grows

3rd Jun 2015 10:47

Agricultural bioscience group Plant Impact said it expected annual results to be in line with expectations, after revenue edged higher in the first nine months.In the third quarter of its financial year to 30 April, the group said revenue was flat year-on-year to £600,000, although revenue in the nine months to the end of April jumped 82.3% to £3.1m.The London-listed company said it expected a slight growth in its European operations to the end of its financial year, adding in the nine months to 30 April it swung to a £100,000 profit compared with a £800,000 loss a year earlier.Plant said it started a multi-year investment scheme aimed at developing and launching new crop enhancement products and planned to expand its operations to the US and Latin American countries."The implementation of a multi-year investment programme marks another exciting step taken for the company and one that seeks to contribute further to its progress," said group chief executive John Brubaker.Plant Impact shares were down 2.31% to 63.50p at 11:11 on Wednesday.