February 12, 2009
Monsanto expects profit increase
Monsanto is expecting the success of its seed and traits business to offset an anticipated drop in its Roundup herbicide business over the next three years, said the company in a profit growth target report.
Roundup herbicide profitability is likely to peak this year, with expected gross profit to reach US$2.4-2.5 billion, the company said.
Monsanto said it is targeting 2009 operating earnings at US$4.40 to US$4.50 per share, up from US$3.64 per share in 2008. Earnings-per-share growth in the second and third quarters is expected to increase 10-12 percent.
Monsanto expects to make significant gains in Brazil, Argentina and other foreign markets. Sales increases in these countries in fiscal 2009 will be largely driven by the launch of the YieldGard Corn Borer trait technology in Brazil, said Monsanto.
