08 January 2013 13:46 [Source: ICIS news]
HOUSTON (ICIS)--Monsanto’s fiscal 2013 Q1 net income rose to $339m (€258m) from $126m in the same period a year ago, as net sales increased by 20.5% to $2.94bn, the US-based international seed and agrochemicals major said on Tuesday.
Monsanto’s gross profit for the three months ended 30 November 2012 rose by 27% year on year to $1.4bn.
Monsanto credited the continued expansion of its Latin American corn business and early momentum in its US seeds and traits business for the year-on-year improvement.
"We've achieved a successful start to the year, with contributions from multiple areas that speaks to the strength of our global business and provides confidence in our ability to realise a third consecutive year of significant growth," said CEO Hugh Grant.
($1 = €0.76)
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