27 June 2012 14:09 [Source: ICIS news]
HOUSTON (ICIS)--Monsanto’s fiscal 2012 third-quarter net income rose by 35% year on year to $937m (€750m), driven by a strong performance of the company’s seeds and traits business, the US-based agricultural products and chemicals firm said on Wednesday.
Monsanto’s sales for the three months ended 31 May rose by 17% year on year to $4.2bn. Gross profit was up 20% to $2.36bn.
“With our most significant selling seasons wrapped up, the third quarter gives us a near complete view of our business for the fiscal year and I feel very good about where we stand,” said CEO Hugh Grant
“We’ve achieved excellent business results this year, but more importantly we've continued to receive [a] positive response to our products from farmers,” Grant added.
Monsanto confirmed its guidance of ongoing earnings per share for the fiscal year ending 31 August of $3.65 to $3.70, reflecting a year-on-year increase of up to 25%.
($1 = €0.80)
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