London-listed Plant Health Care gains on strong start to 2024
08/05/2024 11:54
** Shares of Plant Health Care Plc PHC.L surge as much as
38.3% to 4.8p, stock top pct gainer across London
** Provider of peptides for plant protection to global
agriculture markets says revenue for first four months of 2024
up 72% at $4.3 mln, boosted by sales to U.S. distributors
** PHC says gross margin improved materially in first four
months of year, helped by increased sales of high-margin
Harpinad and PREtec products
** North Carolina-headquartered co says new registrations
and distribution agreements in 2023 and 2024 point to
significant revenue growth in 2024, in line with market
forecasts
** Co says FY revenue outside U.S. rose 23% in 2023 and core
loss narrowed to $2.8 mln vs loss of $3.5 mln year ago
** Stock at session high as of 1038 GMT, taking YTD gains to
over 19%
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))