June 10, 2011


Viterra's Q2 profit rises 80%


Vittera Inc has reported a 80% rise in net profit on Thursday (Jun 10, bolstered by brisk South Australian crop shipments and high grain prices.


Canada's biggest grain handler, which also holds a dominant position in South Australia, said it made a net profit of CAD33.1 million (US$33.8 million), or nine Canadian cents a share, in the second quarter.


That compares with a profit of CAD18.4 million (US$18.9 million), or five Canadian cents a share a year ago in the same three months ending April 30.


Revenue rose 33% to CAD2.7 billion (US$19.4 million). Analysts had expected earnings of 17 Canadian cents a share and revenue of CAD2.3 billion (US$2.36 billion).

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