Toot Toot
"Given these circumstances it now looks unlikely that CSR will achieve the improved profit
outcome previously expected."
At its Annual General Meeting in July CSR advised that as long as sugar prices remained
reasonably strong, it expected group earnings before interest and tax for the year ending
March 2007 to be around 10% ahead of last year.
Since July sugar prices have fallen by around 25% and there has been a continuation of the
unseasonable wet weather that delayed the start of crushing and has depressed sugar content.
In the past few days widespread rain across growing areas has disrupted harvesting. The
Herbert region in particular has experienced rainfall in excess of 500mm (20 inches) in some
areas and harvesting continues to be disrupted.
Given these circumstances it now looks unlikely that CSR will achieve the improved profit
outcome previously expected.
Add to My Watchlist
What is My Watchlist?