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Press Release Source: Agria Corporation Agria Expects to Reach High-End of Prior 4Q07 Guidance Monday February 25, 7:00 am ET BEIJING--(MARKET WIRE)--Feb 25, 2008 -- Agria Corporation (NYSE:GRO - News), an innovative China- based agri-solutions provider, today announced that the Company expects revenues for the fourth quarter of 2007 to reach the high-end of prior guidance. Prior guidance for revenues for the fourth quarter of 2007 was between approximately RMB 238 million (US$ 31.8 million) and RMB 253 million (US$ 33.8 million), representing year-over-year growth in the range of 60% to 70%, respectively, compared to RMB 149 million in the fourth quarter of 2006. Growth was led by strong corn seed sales, as the fourth quarter is typically the strongest period for this segment due to the annual harvest and sales cycle. Mr. Kenneth Huang, co-CEO, commented, "We are pleased with the success in our business and continue to expect we will achieve annual revenue growth above 25% in 2008 compared to 2007 based on current order forecasts and market expectations. We expect to achieve this growth despite the impact of snow storms in China in the first quarter of 2008. The storms did not materially affect our operation in Shanxi, did not cause any material increase in breeding sheep deaths and should not impact our seedling business. The impact was confined to transportation and shipment problems across China. Overall, the weather is a short-term, macro issue. The opportunities in front of us for revenue and profit growth remain vast." Based on sales orders received, Agria now expects revenue in the first quarter 2008 will be approximately 15% above the first quarter of 2007, or approximately RMB 136 million (US$ 17.9 million). The Company believes revenue growth would have been approximately 20% higher than the year ago period without the impact of snow storms in China. The first quarter is normally seasonally below the fourth quarter for the industry. |
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| aus der Diskussion: | Agria Corporation, ein schnell wachsender profitabler Agrar Wert |
| Autor (Datum des Eintrages): | Unkenhorst1 (07.04.08 19:13:50) |
| Beitrag: | 2 von 290 (ID:33829485) |
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