AUSTRALIA'S ABB GRAIN EXPECTS STRONG RESULTS IN CURRENT FY.

AsiaPulse News, November, 2002

MELBOURNE, Nov 19 Asia Pulse - ABB Grain Ltd (ASX:ABB) expects another strong performance in the current financial year after reporting a net profit of $A14.4 million ($US8.08 million) for the year ended September 30, 2002.

ABB Grain, the Adelaide based grain company that listed on the stock market in July, said its net profit exceeded its prospectus forecast by 7.5 per cent.

The result was also 6.8 per cent ahead of the previous year.

"Despite the current drought conditions, ABB is expecting a strong company performance in 2003," ABB chairman Trevor Day said.

"The effects associated with the lack of available grain will be largely offset by record grain prices, which remain buoyant as a result of strong drought-induced demand.

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