Crop enhancement firm enjoying foreign exchange tailwind

Preston-based Plant Impact, an AIM-listed specialist in research and development in crop enhancement products, has benefited from favourable foreign exchange rates which have contributed to a 17% increase in revenue to £4.9m and 18% rise in profits to £4.9m.

Half-year results to January 31 point to the continued success of its flagship soy yield enhancement product, Veritas with first sales in Argentina, Paraguay and Bolivia.

There has also been good growth in the second season of its Banzai cocoa yield enhancement product.

Chairman David Jones said: “During the first half of the year Plant Impact achieved progress on each of the strategic initiatives that the company is pursuing.  We enter the second half of the year with much to do and an encouraging set of prospects to deliver.”