Agriterra Ltd – Interim Results

Agriterra Ltd – Interim Results

Interim Results

Agriterra Ltd, the AIM listed company focussed on the agricultural sector in central and southern Africa, announces its results for the six months ended 30 November 2009.

Overview

  • Significant progress made towards building a major sub-Saharan African focussed agricultural business
  • Record buying season achieved at Chimoio maize processing facility – increased total purchase figure by 40% to 35,000 tonnes (2008 buying season: 25,000 tonnes)
  • Growing market presence – DECA commands major market share in key regions such as Beira and geographic reach is spreading countrywide
  • Tete facility – 8,000 tonnes of maize achieved during 2009 buying season and full commercial licences obtained
  • Breeding programme progressing well on Mozbife’s Dombe and Mavonde ranches – total head of cattle now approximately 1,000
  • Heavily invested in development of both maize processing and beef business
  • In December acquired remaining interest in agricultural trading and processing companies and cattle ranching and feedlot production entity Mozbife
  • Interims coincide with buying season, full year results reflect sales

 

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