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Canada's largest grain handler, dual listed Viterra (ASX:VTA, TSE:VT), has posted a 28 per cent increase in its third quarter pre-tax earnings.
In the nine months to July 31, 2011 Viterra delivered pretax earnings of $242 million, revenue increased 43 per cent and EBITDA rose 56 per cent.
The results were achieved on the back of improved results in all three of the company’s businesses in a period that saw record grain shipments in Australian ports.
The company has forecast strong shipment volumes will continue and says it is well positioned to benefit from larger grain and canola harvests in Canada.
In the year to 31 October 2010, Viterra posted a net profit of $145.3 million.
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