Posting of Report & Accounts

RNS Number : 9732S

Agriterra Ltd

29 November 2011

 



Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture

29 November 2011

Agriterra Ltd ('Agriterra' or 'the Company')

Posting of Annual Report & Accounts

Agriterra Ltd, the AIM listed company focussed on the agricultural sector in Africa, announces that its Annual Report for the year ended 31 May 2011 has been posted to shareholders.  The Annual Report is also available to download from the Company's website at www.agriterra-ltd.com.

** ENDS **

For further information please visit www.agriterra-ltd.com or contact:

Andrew Groves	Agriterra Ltd	Tel: [phone]
Jonathan Wright	Seymour Pierce Ltd	Tel: [phone]
David Foreman	Seymour Pierce Ltd	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Susie Geliher	St Brides Media & Finance Ltd	Tel: [phone]

Notes

Agriterra Ltd is an AIM listed agricultural company with three divisions: beef, maize and cocoa.  Its cattle ranching business, Mozbife, currently has a 2,350 strong herd, a land holding of over 16,000 hectares, a feedlot and an abattoir which is under construction but will have a capacity of 4,000 head per month.  In addition to product from its own herds, it is anticipated that throughput for these facilities will be supplemented using cattle bought in from local communities.

The Company's maize buying and milling operations, DECA and Compagri, are located in Chimoio and Tete in central and north-western Mozambique respectively.  These collect maize from circa 350,000 farmers using the Company's own vehicle fleet, process it into mielie meal, the African staple, and then sell it back to the local market, into supermarkets and to the World Food Programme.  Combined sales for the year ended 31 May totalled 28,822 tonnes maize meal generating revenue of US$13.6 million.

Agriterra also has a cocoa business based in Sierra Leone, Tropical Farms Limited, which is currently a buying and trading operation, but provides an ideal conduit to branch out into cocoa production in West Africa.  Its strategy is to establish itself as a secure, sustainable and traceable source of supply to meet the requirements of the major cocoa consumers who are placing increased emphasis in this area.

 

END

 

 

ACSUKAURAKAAUAA