Agriterra (LON:AGTA) (AGTA 3.72p / £25.82m)
The AIM listed group focussed on the agricultural sector in central and southern Africa, announced a positive set of results for the six months ended 30 November 2010. The Company started the period with a strong maize stock pile, following a record buying year in 2009, which enabled them to manage the processing and sales of the product in-line with the recent favourable pricing environment. The sale of 17,250 tonnes of maize meal and bran, from both the DECA and Compagri facilities during the period, resulted in record turnover for the maize businesses, with revenue totalling US$5.2m; more than double that of the corresponding period in 2009. This increase in revenue, coupled with the completion of construction and bedding down of the Tete facility, has enabled the grain processing branch of the Agriterra business to swing into profit at an operational level.
The Company also experienced an 82 per cent pregnancy rate and 100 per cent survival rate of all calves in their beef ranching business. This was a tremendous achievement for Mozbife, and underpins the quality of their beef stock and high veterinarian standards. This successful breeding programme is critical both to the continued growth of the herd and the improvement of animal quality.
Agriterra’s wholly owned subsidiary, Agriterra Guinée SA has signed a Concession Agreement with Port Autonome de Conakry for the construction and operation of a 30 hectare industrial and commercial terminal in the East Zone of the Port of Conakry in Guinea. The 20 year Concession Agreement is part of the Company’s strategy of expanding its operational activities within the agricultural and logistics business in Africa. It is anticipated that the terminal, when complete, will contain grain storage silos, a processing unit, a preparation unit, a logistics depot, a fuel depot, freight hangars and food storage silos. This is a fantastic complementary opportunity for Agriterra to expand its activities and utilise its African focussed agricultural and logistics experience to capitalise on the commodity resource boom in West Africa.
Angel Biotech (LON:ABH) (ABH 0.54p / £14.33m)*
AIM listed GMP manufacturer of advanced biological yesterday announced its audited final results for the year ended 31 December 2010. Angel was off 7 per cent on the day, no doubt some investors taking profits as the share price has doubled over…
