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Agricore United Reports $42.8 Million Net
WINNIPEG - Sep 15/04 - SNS -- Agricore United reported net earnings of CDN $42.8 million for the third quarter ending July 31, a decrease of $2.1 million form the same period last year.
The results had a positive effect on net earnings for the first nine months of the current fiscal year, lifting them into positive territory, with accumulated earnings now totalling $13.4 million, up from $3.1 million during the first nine months of the 2003 fiscal year.
The company said its third quarter is traditionally the strongest for selling crop production inputs and services. Seed sales increased over the same quarter last year and also contributed higher margins.
However, a late spring and unfavorable weather conditions limited opportunities for customers to apply fertilizer and reduced crop nutrient sales during the quarter.
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