Monsanto fiscal Q1 net profit rises to $6m on sales increase

06 January 2011 13:47  [Source: ICIS news]

LONDON (ICIS)--Monsanto reported a $6m (€4.6m) net income for its fiscal first quarter, up from a net loss of $19m during the same period a year earlier, on the back of a rise in sales, the US agrochemicals company said on Thursday.

Net sales increased 8% year on year in the quarter ended 30 November to $1.8bn, with increases across all major crops in the seeds and genomics segment, the company said.  

"Our first quarter tracked well with our operating plan across the crops, geographies and products we expect to be drivers in 2011," said Hugh Grant, chairman, president and CEO.

"We're executing against the areas most important to our business growth, particularly our seeds-and-traits focus in Latin America and delivering on our seed strategy in the United States,” he added.

Monsanto affirmed its guidance of free cash flow for fiscal 2011 in the range of $800m to $900m, reflecting an investment of $600m to $700m in capital expenditures.  

($1 = €0.76)

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By: Hilde Ovrebekk
+44 20 8652 3214

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