DECA

Operations Update

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 LLP

Tel: +44 (0) 20 3206 7000

Hugo de Salis

St Brides Media & Finance Ltd

Tel: +44 (0) 20 7236 1177

Susie Geliher

St Brides Media & Finance Ltd

Tel: +44 (0) 20 7236 1177

 


This information is provided by RNS
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