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LONDON (Alliance News) - Agricultural biochemistry firm Plant Health Care PLC Wednesday said that trading continues to be in line with expectations, and its full-year results will reflects its move to streamline the business.
The group has been trying to streamline its focus on one technology platform and two products, selling Plant Health Care BV to the Netherlands subsidiary's management for EUR1 and the repayment of a USD536,230 inter-company loan.
In a trading update ahead of its full-results release on March 24, Plant Health Care said that it has continued to implement its new strategy in the second half of the year, having previously announced the discontinuation of an agreement with Monsanto, the appointment of Chief Financial Officer Jeff Hovey back in September, and the completed sale of its non-core European distribution activities. The group still retains a core capability in the UK and Spain to enable the continued exploitation of Europe, South Africa and certain other non-American markets.
"The full year results will reflect these changes and will set out the contribution from our continuing activities and those relating to discontinued and non-core activities," the company said in a statement.
Plant Health Care shares were trading 1.5% lower at 49.00 pence per share Wednesday morning.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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