February 16, 2011

Cresud's H1 profit decreases

Cresud, an Argentina-based company engaged in crop, beef cattle and milk production, reported a lower net income of ARS106.97 million (US$26.59 million) for the six months ended December 31, 2010.

Compared with the six months ended December 31, 2009, the company earned ARS141.84 million (US$35.26 million).

Cresud's total production revenues first for the six months of fiscal 2011 were ARS89.85 million (US$22.34 million), compared with ARS42.39 million (US$10.54 million) for the six months of fiscal 2010.

Operating profit for the six months of fiscal 2011 were ARS359.44 million (US$89.36 million), compared with ARS280.47 million (US$69.73 million) for the six months of fiscal 2010.