Plant Health Care (PHC)

Sector:

Industrial Chemicals

Index:

FTSE AIM All-Share

3.59p
   
  • Change Today:
      0.12p
  • 52 Week High: 11.60
  • 52 Week Low: 3.20
  • Currency: UK Pounds
  • Shares Issued: 341.53m
  • Volume: 675,665
  • Market Cap: £12.26m
  • RiskGrade: 304

Plant Health Care losses narrow as commercial arm turns cash positive

By Josh White

Date: Friday 23 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Agricultural biological products company Plant Health Care said cash used in operations reduced to $2.5m (£1.8m) in its final results on Friday, from $4.4m in the prior year.
The AIM-traded firm said its adjusted EBITDA loss narrowed to $3.3m for the year ended 31 December, from $3.8m in 2019, while cash and cash equivalents including investments at year-end totalled $4.1m, up from $2.4m a year earlier.

It successfully raised £3.6m ($4.4m ) through the issue of new ordinary shares during the year in March 2020, with a further £6.6m being raised in March 2021.

On the commercial front, revenue was up 3% year-on-year at $6.6m, or ahead 10% at constant currencies.

Plant Health Care said its commercial business was EBITDA and cash positive for the first time, adding that in-market sales in the United States and Brazil doubled in 2020, with product adoption pointing to "strong" revenue growth.

In-market distributor inventory reduced by more than $1m, and the board said it now had access to a market of 30 million hectares.

In-market sales of 'Harpin αβ' doubled in the company's core markets.

"Plant Health Care is well-positioned for growth in 2021," said chief executive officer Christopher Richards.

"In our core markets, Harpin αβ is gaining traction together with very strong distributor partners.

"The prices of agricultural commodities have bounced back to the highest level for many years; growers will be investing more in their crops and may be willing to try new, yield-enhancing products."

Richards said the PREtec product pipeline looked stronger and stronger, with the first product launch of 'Saori' in Brazil a "pivotal moment" for the group.

"With regulatory submissions in the US and in South America, the schedule of product launches is taking shape, with profitable sales building from there.

"The recent fundraise will allow us to invest, to accelerate this growth, not only in the Americas but also to enter Europe, the largest market in the world for sustainable agriculture."

Supporting that growth was an "exciting challenge" for Plant Health Care, Richards quipped.

"As we grow, the team is increasing in size, but we remain a small team of high-performing professionals, around the world.

"The global team is increasingly sharing ideas for product development and growth, learning from each other.

"What works for citrus and fruit in Spain, often works also in the US; exceptional results on golf courses in the UK offer learnings for the much larger market in the US; [and] seed treatment in Brazil and the US can teach much to Europe."

At 1403 BST, shares in Plant Health Care were down 3.7% at 15.79p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PHC Market Data

Currency UK Pounds
Share Price 3.59p
Change Today 0.12p
% Change 3.46 %
52 Week High 11.60
52 Week Low 3.20
Volume 675,665
Shares Issued 341.53m
Market Cap £12.26m
RiskGrade 304

PHC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
1.32% above the market average1.32% above the market average1.32% above the market average1.32% above the market average1.32% above the market average
37.5% below the sector average37.5% below the sector average37.5% below the sector average37.5% below the sector average37.5% below the sector average
Price Trend
84.23% below the market average84.23% below the market average84.23% below the market average84.23% below the market average84.23% below the market average
22.22% below the sector average22.22% below the sector average22.22% below the sector average22.22% below the sector average22.22% below the sector average
Income Not Available
Growth
33.52% above the market average33.52% above the market average33.52% above the market average33.52% above the market average33.52% above the market average
22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PHC Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:09 771 @ 3.62p
16:09 601 @ 3.56p
16:08 628 @ 3.50p
16:08 574 @ 3.44p
16:08 77,538 @ 3.44p

PHC Key Personnel

CFO Jeffrey Hovey
CEO Jeffrey Tweedy

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