Plant Health Care expects rise in annual revenue, margins

Writer, Stock Market Wire
Tuesday, January 29, 2019 - 08:25

Pesticides producer Plant Health Care said it expected to report higher annual sales and margins, as weakness in South Africa was offset by a stronger performance in the US, Brazil and Spain.

Revenue for the year through December rose to $8.0m, up from $7.7m, marking growth of 7% when expressed in constant currency terms.

Gross margin had improved to 65%, from 62%.

Cash and cash equivalents at 31 December were $4.3m; with a delayed US product launch increasing inventory by around $0.5m.

The company said its year-end cash reserves remained sufficient to take it to cash positive in 2020, as commercial income grew.

'Plant Health Care continued to make exciting progress in 2018, in spite of recently announced set-backs,' interim chief executive Chris Richards said.

At 8:25am: (LON:PHC) Plant Health Care PLC share price was +0.33p at 7.88p

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