Operations Update (9300Z)
January 24 2011 - 2:00AM
UK Regulatory
TIDMAGTA
RNS Number : 9300Z
Agriterra Ltd
24 January 2011
Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector:
Agriculture
24 January 2011
Agriterra Ltd ('Agriterra' or 'the Company')
Operations Update
Agriterra Ltd, the AIM listed company focussed on the
agricultural sector in central and southern Africa, is pleased to
announce a positive update on its grain processing and cattle
ranching operations in Mozambique.
Overview
-- Record maize sales achieved for DECA and Compagri for Q4 2010
- total sales from both facilities increased by 130% on Q4 2009 to
US$4.0 million
-- DECA facility continues to perform strongly - sales from Q4
2010 up by over 120% from Q4 2009 to 11,326 tonnes of maize and
bran
-- Mozbife operations achieving strong growth - herd currently
stands at over 1,100 head across 15,000 hectare Dombe and 1,000
hectare Mavonde ranches
-- Irrigation development continues apace on Mavonde ranch -
over 380 hectares now fully irrigated
Agriterra Executive Director Euan Kay said, "We have achieved
excellent sales at our grain processing facility at Chimoio this
year and sales from Tete are now also starting to increase,
supplying the booming mining area of Tete and its hinterland. In
tandem with this we are expanding our beef ranching operations in
order to capitalise on the increasing domestic and international
demand for beef and are, as a result, fast-tracking development of
our Vanduzi feedlot/abattoir project and ranching operations, which
we believe will create further value for our shareholders."
** ENDS **
For further information please visit www.agriterra-ltd.com or
contact:
Andrew Groves Agriterra Ltd Tel: +44 (0) 20 7408
9200
Jonathan Wright Seymour Pierce Ltd Tel: +44 (0) 20 7107
8000
David Foreman Seymour Pierce Ltd Tel: +44 (0) 20 7107
8000
Robin Henshall Matrix Corporate Capital Tel: +44 (0) 20 3206
LLP 7000
Hugo de Salis St Brides Media & Finance Tel: +44 (0) 20 7236
Ltd 1177
Susie Geliher St Brides Media & Finance Tel: +44 (0) 20 7236
Ltd 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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