StockMarketWire.com - Pesticides company Plant Health Care posted a full-year loss, as its sales fell and margins were squeezed by US trade tariffs imposed on China.

Pre-tax losses for the year through December amounted to $3.8m, compared to losses of $7.9m on-year.

Revenue fell 21% to $6.4m, owing to delayed sales in Brazil and 'exceptionally difficult market conditions' in the US.

Plant Health Care said planting intentions in the US and elsewhere remained robust.

However, it added that the recent collapse in the oil price had led to a severe reduction in the price of ethanol from sugarcane in Brazil, which would lower demand for its Harpin product.

'The group nonetheless is positive about the prospects for revenue in 2020, compared with 2019,' the company said.

Plant Health Care said it had strong cash reserves, with cash and cash equivalents at 31 December of $2.4m.

The company had raised £3.6m from a share issue last month.




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