February 11, 2009
Argentina's Cresud H1 2009 net income at ARS12.3 million
Argentine agriculture conglomerate Cresud S.A.C.I.F. y A (CRES.BA) on Tuesday (February 10) reported a first half 2009 fiscal year net income of ARS12.3 million (US$3.5 million), compared with an ARS14.4 million a year earlier.
Cresud's first half fiscal period ended December 31.
"We increased the number of hectares allocated to agriculture by 66 percent, to over 104,000 hectares," Cresud said in a statement.
The company also detailed plans to expand in the region.
"We have concluded the due diligence process and closed the acquisition of 12,166 hectares in Bolivia and 20,965 hectares in Paraguay," Cresud said.
