StockMarketWire.com - Plant Health Care has posted a FY net loss of $11.2m, from a loss of $7.7m, after revenue fell to $6.3m, from $7.5m, as distributors in the US market held excess inventory at year's end.

However, the company said, sales outside the US remained fixed at $4.9m. The gross margin remained steady at 62% of sales in 2016.

"We anticipate that existing cash reserves, together with forecast commercial revenues and cost savings already put in place, will now fund the business at least until the end of 2018," the company said.

"As a result, we are confident that the next two years will see a step change in the position of Plant Health Care."




At 9:33am: [LON:PHC] Plant Health Care PLC share price was +0.25p at 27.5p



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