December 24, 2009

Talks on AWB Geneva sale in progress

The sale process for Australian agribusiness AWB Ltd's Geneva operation and 60% of its Commodities Management unit with an international commodities company is progressing but any sale will only occur if it is beneficial for shareholders.

While the company's performance last fiscal year was disappointing, AWB is forecasting profit before tax and one-time items this fiscal year ending September 30, 2010 for continuing businesses in a range A$115 million-A$140 million (US$101 million-US$123 million).