(Extract from the Quarterly Report for Auriga Industries A/S for the period January 1, 2007 - March 31, 2007)
With revenue somewhat above last year, Cheminova had a good start to the year in most of Europe and North America. However, the season has only just started in these markets, and consequently, some of the products sold are still waiting to be used. As expected, Cheminova’s sales in Brazil were negatively affected by the fact that the first quarter marks the end of a very poor season.
Sales of insecticides developed more positively than expected. The same goes for glyphosate, the price of which still remains under fierce pressure.
The situation in Brazil remains very uncertain, although the high crop prices give rise to some optimism for the coming season. The debtor situation is being closely monitored. The product liability cases have still not been settled by the insurance company.
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The total Quarterly Report can be found on Auriga's website www.auriga-industries.com.
April 24, 2007 |
