Plant Impact hits back at rumour mongers

AGRICULTURAL specialist Plant Impact today hit back at “speculative and negative comments” in chat rooms about its financial position.

Earlier this week, the Preston-based group hailed a “year of progress” which has seen it sign a number of multi-million pound licence deals.

It also revealed increased losses in the year to March 31 from £1.8m to £2.5m, while turnover rose from £285,000 in 2008 to £830,000.

In a statement the group, which makes non-toxix pesticides, said: “Plant Impact wishes to refute certain speculative and negative comments regarding the  company’s  financial position.  

“As stated in the recent annual results, the board believes the company has sufficient working capital for its existing needs following the previously announced licensing agreement with Arysta LifeScience Corporation.

“Trading for the current financial year has started positively, with sales for the first quarter at record levels, and the board is unaware of any reason for the weakness in the company’s share price.”
 
Plant Impact added that it has an exciting portfolio of products, for which it “may aim to secure expansionary finance at an appropriate time”.