Plant Impact Regulatory News (PIM)

Plant Impact plc

("Plant Impact" or the "Company")

Trading Update

Today Plant Impact announces a trading update for the three and twelve months ending 31 July 2014. This update provides indicative results for the first full financial year reported on the company's revised, 31 July year-end. This trading update also provides prior period comparison data for the twelve months ended 31 July 2013, which have not previously been released to investors.

The Directors are pleased to report continued progress in trading. Turnover for the twelve month period was £2.5 million compared to £1.2 million in the comparable twelve month prior period ended 31 July 2013. Turnover in the three month period ended 31 July 2014 was £0.8 million compared to £0.5 million in the comparable three month period of 2013.

The increased turnover in the twelve-month period ended 31 July is principally due to the Company's launch of its new product Veritas® in Brazilian soybeans. Sales to distributors and consumption of Plant Impact's products by growers in European and Middle-Eastern regions continue to strengthen, and the Company anticipates a greater contribution to overall growth from these regions in the current financial year. In the key markets of the United Kingdom and the Netherlands, the Company has achieved appreciable market share for Amētros®, its recently-launched product that improves the post-harvest quality of high-value tree fruit, such as apples.

The Company's net loss in the twelve month period reduced to approximately £0.7 million compared to £1.2 million in the twelve month period to 31 July 2013. Operating expenses in the twelve month period ended 31 July 2014 increased to £2.7 million from £2.1 million in the prior period. The increase was entirely a consequence of planned resourcing of the Company's new business in Brazil. These figures are indicative and unaudited, although the Directors do not anticipate that the 2014 audited financial statements, to be released in late October, will reflect any material changes.

The Company's cash balance at 31 July 2014 was £0.5 million. As of the date of this trading statement, the Company had approximately £0.7 million of cash on hand. Month-to-month fluctuations in the cash balance continue to trend upward as a result of the Company's careful focus on working capital management. Current and projected cash balances remain sufficient for the Company's operational needs over the coming twelve months, and cash management capability has been greatly improved due to Plant Impact having entered into a receivables-based working capital financing facility of up to £1.0 million with HSBC.

John Brubaker, Plant Impact CEO commented, "I am very pleased that the strategy we have consistently followed over the past three years is now being reflected in sales. We have maintained our commitment to our core European fruit and vegetable customers, having launched new and innovative products like Amētros® and having expanded our distribution network to specialists in the United Kingdom and the Benelux countries. In parallel, our team has successfully launched a new business in Latin America, where - through our recently-announced partnership with Bayer CropScience - our product Veritas® is now at the forefront of the Crop Enhancement sector in Brazilian soy, one of global agriculture's most significant crops."

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