Plant Advanced Technologies PAT reported an increase of 12.5 1TP6Q (€171k) in the 1st half of 2016, boosted by the sale of Laboratoires Expanscience's new Neurovity product in April 2016.
Over the period, PAT strengthened its core business as a discoverer and producer of rare plant molecules with :
- The acquisition at 100 % of the Belgian laboratory StratiCell, specialized in in-vitro cosmetic activity testing.
- The creation of the PAT Zerbaz subsidiary on Reunion Island to promote the biodiversity of the French tropics.
- The acquisition of a majority stake in Couleurs de Plantes, a company specializing in the production and sale of plant-based colorants.
These new subsidiaries, whose unaudited figures are not included in PAT's sales figures, performed well in the first half. Couleurs de Plantes posted half-year sales of €126k, while StratiCell recorded an excellent half-year, increasing its sales by a factor of 4 to end June, with sales of €385k.
PAT confirms the interest of its preclinical anti-Alzheimer and anti-inflammatory candidate molecules, which are showing exceptional results in various tests. These major advances with very high potential offer PAT new growth prospects, while positioning it as the sole producer of these highly innovative molecules.
The gradual rise in sales of new PAT products and the strengthening of R&D partnerships will enable the company to record further revenue growth in the 2nd half.
