18 January 2012
PLANT HEALTH CARE PLC("Plant Health Care" or "the Company")
Trading Update
Plant Health Care (AIM: PHC.L), a leading provider of
naturally-derived products to the agriculture industry,
provides the following post year-end update ahead of the
announcement of its full year results to 31 December 2011,
which are expected on 27 February 2012. All results provided
are preliminary and subject to completion of the 2011
audit.
The Board is pleased to report that the operating loss before
share-based payments is expected to be approximately $6.7
million, on revenues of $7.9 million. Due to tight control
over operating costs, the operating loss was better than
expectations, with revenues being slightly less than
expectations. As a consequence of the lower losses and strong
collections from debtors, the Company is expecting to report
cash and cash equivalents at year-end of US$14 million,
significantly ahead of expectations. The Company is focused
on accelerating the development and improving performance of
its core Harpin and Myconate technologies. As a result, R&D
spend on next generation product development and formulations
doubled in
2011, and is expected to increase at a similar rate in 2012
to over $1mm.
The Company has also been strongly focused on the pursuit of
further significant partnering relationships. The following
is a progress report on the most significant aspects of the
business: