Soybean boom sees Plant Impact revenue climb to £8.5m

Preston-based Plant Impact, the specialist in research and development in crop enhancement, is celebrating a 17% boost in revenue thanks largely to sales of its flagship soybean Veritas product in Brazil.

Turnover increase to £8.5m (2016: £7.2m) in the year to July 31, while gross profit increased 19% to £6.7m (2016: £5.6m).

The company enjoyed first sales of Veritas and Fortalis in the USA, Argentina, Paraguay and Bolivia.

Meanwhile, a purchase plan was agreed for the 2017/18 Brazil growing season and there were increased sales of the company’s Banzai cocoa product.

Chief executive John Brubaker said: “The group has an exciting set of commercial and R&D prospects ahead of it and an ambitious and talented team with the drive to succeed.

“We enter the new financial year focused on our goal of establishing Plant Impact as the leader in this important new category of agricultural inputs.”