(Extract from the Quarterly Report for Auriga Industries A/S for the period January 1, 2006 - March 31, 2006)
In most European countries, the spring has this year arrived 3-4 weeks later than usual. One exception, however, is Spain where the season is well under way. In Northern America, the planting season has also begun later than usual, while Mexico has had a good start to the season.
In Brazil, the demand for plant protection products declined by 10 per cent last year, and this year a further decline is expected, especially due to declining prices in local currencies. This has also affected Cheminova’s sales in Brazil, which were lower relative to the same period last year.
As part of Cheminova’s growth plan, the company expanded its activities in 2005 with four new sales companies, which have contributed to maintaining revenue in the first quarter. The revenue of these companies primarily still consists, however, of third-party products with a lower gross profit than the average gross profit on Cheminova’s own products.
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The total Quarterly Report can be found on Auriga's website www.auriga-industries.com.
April 25, 2006
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