Plant Impact, the Rothamsted-based developer of innovative crop enhancement technologies, has reported significant increases in profitability and sales from the first half of its financial year.
The business has made an operating profit of £213,000 on revenues of £4.2 million in the six months to January 31st 2016, compared to £81,000 and £2.5m in H1 2015. It ended the period with a cash balance of £8.6m, up from £0.7m a year earlier.
The company opened a new US office during the period. Its R&D work includes new soya crop products and the first product aimed at the wheat crop.
“Our determination to drive sales in Brazil whilst broadening the products and geographies in our soya range has shown results in the first half of the year,” comments Plant Impact chairman David Jones. “Furthermore, our promise to open a new market with large potential that is outside of soy in the Americas and with a different strategic partner, took shape with our first shipments of our cocoa product, Banzai, to Arysta LifeScience in West Africa.”