Plant Health warns on partnership revenues

Plant Health Care, the AIM-listed provider of naturally derived products to the agriculture industry, has warned that although it expects good growth in partnership revenues in the current year and next, these will be at lower levels than currently indicated by market forecasts.

The announcement came as the group revealed that it has entered into a multi-year distribution agreement with Dalgety Agra Polska to market Plant Health Care's Myconate for both seed treatment and foliar application in Poland.

In a statement the company said: "We are involved in multiple discussions with industry partners who are interested in commercialising our products and intellectual property, and in particular our Harpin and Myconate platforms. PHC remains confident that it can deliver substantial value to shareholders through the successful implementation of its partnership agreements.

"Nonetheless, the board recognises that the precise timing of agreements and revenues can be subject to a number of uncertainties because of factors such as the outcome of field trials and the progress of registration processes for new products.

"The board has resolved to adopt a more cautious approach to budgeting for future revenues from its partnership discussions. We believe this should give investors a better understanding of PHC's prospects in the short and medium terms."

The share price fell 8.04% to 77.25p by 12:50.

NR