Monsanto has reported first-quarter revenues of $2.87bn, down 9% on the same period last year. Results for the three months to the end of November 2014 show a 9.7% fall in gross profit to $1.4bn, while operating profit stood at $0.47/share. The drop in revenues and profits is blamed on lower planted acres of corn in South America and cotton in Australia. This meant corn seed sales were back 12% to $928m, but this was offset by a 48% increase in soyabean sales to $396m. The herbicides division, which includes Roundup, saw sales back 15% to $1.25bn.
The company is forecasting a challenging year on the back of lower global corn acres however it is hopeful that increased soyabean plantings in South America will boost performance.
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Monsanto has reported first-quarter revenues of $2.87bn, down 9% on the same period last year. Results for the three months to the end of November 2014 show a 9.7% fall in gross profit to $1.4bn, while operating profit stood at $0.47/share. The drop in revenues and profits is blamed on lower planted acres of corn in South America and cotton in Australia. This meant corn seed sales were back 12% to $928m, but this was offset by a 48% increase in soyabean sales to $396m. The herbicides division, which includes Roundup, saw sales back 15% to $1.25bn.
The company is forecasting a challenging year on the back of lower global corn acres however it is hopeful that increased soyabean plantings in South America will boost performance.
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