Plant Health Care Share Discussion Threads

[pretax2] 27/9/2023 09:29

I thought H1 would be a challenge coming after such a good 2022 FY. It can take a while to generate sales off the back of regulatory approvals. Beyond this, the US is preparing for a recession.
Thank goodness we are a global outfit; will help to smooth macro bumps.

[pugugly] 27/9/2023 08:37

Cavendish is house broker -

[geraldus] 27/9/2023 08:21

Cavendish still on a target of 44p.At the time of the June fundraise they said 'trading in the first half of 2023 has been strong with revenue meeting the expectations of management'.Let's hope they get the second half rebound,after all it is nearly October.Some great numbers going forward if they can achieve them.

[davemac3] 27/9/2023 08:16

Us sales disappointing, this will be a case of “show me the money”

[callumross] 26/9/2023 12:38

it's almost as if they are preparing the market for a downbeat TS tomorrow yet the TS with the fundraising on 22nd June (just 8 days before the end of the period) stated "The Directors believe that the current outlook remains positive and prospects for 2023 are in line with market expectations for the full year. Trading in the first half of 2023 has been strong, with revenues meeting the expectations of management"

The only difference is that on 22nd June they said the $30m target was firmly on track whereas yesterday the word firmly was removed. Maybe reading too much into it!

[cerrito] 26/9/2023 11:02

I have to say I was not impressed by referencing twice the usd30m revenue target for 2025 twice in the RNS of yesterday and it seemed a bit desperate especially as any Mexican authorization will not move the dial in 2025.
All will be revealed tomorrow

[callumross] 26/9/2023 10:06

There is an Investor Meets presentation at 4pm tomorrow which you can sign up to and no doubt you can obtain clarification on what criteria the $30m is based on.

[sidam] 25/9/2023 15:17

If you read today’s announcement, the management say they are on track but only if they get regulatory approval in Mexico. The question is how many mote approvals are needed. This is as far as I am aware, that they have added this caveat. So I am not a happy monkey as I think that the early projected $30m was misleading. That said, if they do generate that figure the shares look exceedingly cheap.

[davemac3] 25/9/2023 14:58

results on Wednesday, let's see if they are on track for $30m in 2025

[cerrito] 18/8/2023 09:42

Good news. I was surprised by the relatively small size of the market, although as they have been selling Harpin to the sugar sector for some time, their distribution channels are set up to hit the ground running though no idea of at what part of the crop cycle they would've sold.
Augurs well for a quick federal approval of PHC68949 which serves a very much bigger market

[pretax2] 18/8/2023 07:36

RNS
Great news from Brazil will move the revenue needle. Great opportunity to buy at the current shareprice.
Roll on the interims.

[sidam] 01/8/2023 16:24

If Cenkos estimates are correct, in less than six months the company will be profitable in the then current year. My experience suggests that, when companies are reporting initial profits, it is often a really good time to buy.

I hope I am right as I have a decent sized unit in this company.

[cerrito] 01/8/2023 09:34

It seems that they need to get approval for Harpin on a country by country basis in the EU, despite the invoking of the term Mutual Recognition.
They mention potatoes which is a Harpin product.
Be good to find out in the next IMC session plans for 279 and 949 in Europe.
Yes I noticed in the last 3 years we had a TS by now and reminded myself that there was no AGM TS. Perhaps they aim to get the interims out earlier than the normal mid to late September.

[pretax2] 01/8/2023 07:47

Poland breakthrough. …
Interesting how it’s ProAct, an older product, that’s leading the charge for PHC. Just shows how long it takes to gain the regulatory approvals that we are now establishing after years of research. These are hurdles that many of our competitors have yet to cross. It also highlights the growth potential at PHC with the PreTEC products just starting to show traction.
Go PHC!

[pretax2] 29/7/2023 07:49

Lots of reasons. A delay in auditing or retrieving info (PHC is global and complex). Not a concern atm

[callumross] 28/7/2023 14:23

Bit late with the post close trading update this year.

[pretax2] 27/6/2023 09:50

Early trades are buys showing as sells.
Well done if you got in at the placing price yesterday.
Weird to see the share price the same as Jan 2022. Like the company has made no progress since then….?! Mr AIM Market very depressed and irrational.

[geraldus] 27/6/2023 07:41

Over 8 million sale yesterday below 9p.Who was that and anymore to come.Tin hat time?

[cerrito] 23/6/2023 07:41

Note that Cenkos have increased target price to 44p and say that the ROI is 25pc.
Just as well that they did it when the cable has risen to 1.27,obviously weak by historical standards but at least strong in the context of the last 12 months.
Good that Ospraie went in even if not as energetically as Scobie Ward. Note that Mr Griffiths passed... No idea of that is because he is nursing his losses on WAND and IQE.
Interesting coincidence on which I can draw no conclusions is that the RNS I got just before the PHC one this morning was from another AG Tech holding ANP who announced the result of a tender offer returning the cash to shareholders.

[pretax2] 23/6/2023 07:17

Fundraising:
Very strong support from directors who now have significant ‘skin in the game’.
Shows confidence moving forwards.

[callumross] 22/6/2023 17:16

And a reiteration that the first half which only has a week to go is in line with expectations which is reassuring. If I had been able to participate at 9p I certainly would have topped up. That is the only annoying thing.

[cerrito] 22/6/2023 16:55

Given that CR was very clear in the AGM where he would like to invest resources - as commented in my note-the fund raise no real surprise and may explain why in the last fortnight the share price has been muted despite the London Road show of the 2 Jeff's.
Will in the coming month the share price dip below the 9p issue price as it so often does so that we disenfranchised retail investors can get it at 9p?? Possible but unlikely.
Note that Osarie and Scobie Ward coming in.
For all the talk of AIM being useless at raising capital, this is the second of my holdings that have done a fund raise in the last 24 hours-the other being Volex.
I should have a winge that not invited to participate but note small amount of the issue and not a big discount so my heart not really into it.

[pretax2] 19/6/2023 09:15

Nice to see the PHC financial status screen on ADVFN has been updated

[cerrito] 14/6/2023 15:27

I am glad I made the AGM yesterday and we had a very good hour mainly with CR. Two other investors there including Bots from LSE.
The formal session took less than 5 minutes so we were able to cover alot of ground. The 2 Jeff's were in another meeting and came in at the end. Good division of labour as more important that they speak to prospective institutional investors.
A propos the RNS this morning we were told that there would be 279 sales in the US this year but they would not move the dial. Remember they are being sold to the speciality market which means peak sales in the Spring and Autumn. The issue is that as discussed on IMC once Federal authorization has been obtained you need to get state authorization . This is a six week proceedure in all states except California where it is a question of years... Relevant as California is about 1/3rd of the US market.
Harpin essentially the same for all products around the world.
My notes which may be wrong tell me they have 20 people in Mexico and 12 in Brazil.

Asked about the companies in the peptide space he admired, CR cited a US company Vestaron and Biotalys NV,a quoted Belgium company whose R&D spend is E18 m pa compared to the US3m that CR confirmed PHC expect to spend pa for the next couple of years and had operating income of E2m and a 2022 cash burn of E20m. As I understood it from CR, both companies have issues at getting the manufacturing issues sorted to lower production costs. What is interesting is that Biotalys had as per the Cenkos note a Marcap of £164m, ie 5x that of PHC.
I did not get a sense at the meeting of the huge apparent discrepancy in Marcap between the two companies .
Quite a bit of the meeting focused on the share price and also their desire but not need to raise cash for working capital requirements and to finance expansion in India and elsewhere. In the near term they are concentrating their efforts on 279 and 949.
I do not see much chance of them getting debt finance. They have no hard fixed assets to pledge. CR was not keen on convertibles.
CR confirmed that he was dead set against being taken over on the cheap.
He confirmed what was implicit in the Result of the Consultation that there was no appetite among his shareholder base for them to do acquisitions which I am sympathetic to.
He acknowledged there was market scepticism as there have been false starts including under his leadership.. I am not too aware of this as I bought my first shares in 2019.
PS
No real surprise that apart from the accounts all resolutions passed a la North Korea. Given the shareholder base would have expected a slightly higher voter turnout than 50pc, which is still respectable for an AIM company.
Pps
I did not ask specifically what future news flow there is. Obviously we get the interims in the next few months and last year we had a mid July IMC. Apart from that I cannot think of anything specific until we get full sign off from the various Brazilian authorities on 949.
Ppps
Silly me did not ask how US OTC market activity is nor rough percentage of shares held by UK retail.

[pretax2] 24/5/2023 14:50

RNS Scobie adding more.
Like when did that happen? Thought I‘d notice a few mill on the trade sheet.