Plant Health Care PLC Trading Update (4020X)
19 Diciembre 2019 - 1:00AM
UK Regulatory
TIDMPHC
RNS Number : 4020X
Plant Health Care PLC
19 December 2019
19 December 2019
PLANT HEALTH CARE plc
("Plant Health Care" or the "Company")
Trading Update
Plant Health Care(R) , a leading provider of novel
patent-protected biological products to global agriculture markets,
provides the following update on trading in 2019.
Key points:
-- Due to external factors, year end revenue is expected to be
approximately $6.5m, which is short of expectation. This is
primarily due to:
o Supply of H2Copla to satisfy demand of $1.1M in sugarcane has
been delayed until import licences are granted by the Brazilian
authorities.
o Forecast sales of around $1M of Harpin
𝜶<BETA> for corn seed in USA have been postponed
by our channel partner as they respond to working capital pressures
after an exceptionally difficult year.
-- Underlying market demand remains strong, and other parts of
the Company's operations are unaffected.
-- Progress towards the first launches of products from PREtec
(Plant Response Elicitor Technology) continues to be very
promising, targeting markets worth more than $5 billion.
-- Following the recent fund-raise, the Company is well
capitalised to manage the shift of revenue into the next financial
year.
Prospects:
-- Prospects for Brazilian sugarcane remain strong, and we
expect import licences to be granted early in the New Year.
Bureaucratic difficulties are not uncommon for new companies
operating in Brazil.
-- After the successful 2019 launch of Harpin
𝜶<BETA> into US corn, and enthusiasm from
distributor and growers, treated areas in 2020 are still expected
to be a multiple of those in 2019; we also expect to see first
sales into new crops.
-- As a result of tight control of our operational costs, cash
burn in 2019 will be significantly lower than in 2018.
Chris Richards, CEO of Plant Health Care noted: "In 2019, as in
2018, last minute customer and logistical issues will result in
revenue falling short of expectation. However, the delay in sales
is principally a matter of phasing. Underlying growth prospects are
as strong as ever. The Board intends to address sales phasing
during 2020, which will make it easier for investors to track
revenue growth. Costs are under tight control and we recently
received a capital injection, so are well positioned to capitalize
on the shift of revenue into the next financial year."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Plant Health Care plc
Chris Richards, CEO Tel: +1 919 926 1600
Arden Partners plc - Nomad & Broker
John Llewellyn-Lloyd / Dan Gee-Summons Tel: +44 (0) 20 7614 5900
Company website: www.planthealthcare.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTUWORRKKAUAUA
(END) Dow Jones Newswires
December 19, 2019 02:00 ET (07:00 GMT)
Plant Health Care (LSE:PHC)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Plant Health Care (LSE:PHC)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024