StockMarketWire.com - Plant Health Care narrowed its H1 pretax loss to $3.6m, from a restated loss of $5.0m. Revenue was $3.3m, from $3.8m.

Chairman Chris Richards commented:

"The first half of the year has been an important period for Plant Health Care, in which we have started to reap the benefits of the hard work of 2013.

"Our office move and laboratory expansion in 2013 has resulted in significant reduction and redistribution of our operating expenditure.

"Our increased investment in R&D has allowed acceleration in our work on Harpins and additional work on the PREtec platform. Enhanced support for sales of existing products has resulted in stronger product revenues; moreover we anticipate at least one additional commercial agreement for Harpin αβ or Myconate by the end of the year.

"While much remains to be done, we consider that underlying sales of Harpin αβ and Myconate are now on a firmly growing track. However, sales by Plant Health Care in any one period will continue to be subject to a number of seasonal and market-related factors, including the terms of agreements with third parties and the timing of product registrations. As a result, the Group's sales of these products may not follow a strictly linear trend.

"Trading in the second half of the year has started positively and the Board remains confident at this stage that it can deliver further significant progress in the remaining six months of the year."


At 9:23am: [LON:PHC] Plant Health Care PLC share price was +0.5p at 69p



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