March 10, 2006

Canada's Agricore United reports larger Q1 loss

Higher grain shipments and feed sales were overshadowed by delayed sales of crop nutrients, causing Agricore United to post a larger first-quarter loss than a year earlier.

The agri-business had a first-quarter loss of C$20.6 million or 46 Canadian cents a share, compared with a loss of C$18.4 million or 41 Canadian cents a year earlier.

Sales and revenue from services fell to C$544.4 million from CUS$548.1 million.

Agricore said "good moisture conditions across western Canada will encourage maximum use of the productive capacity and the impact of significant crop growth last year indicates a need for fertiliser products this year".