Business Services Industry
Auriga Industries A/S issues profit warning
Nordic Business Report, Jan 29, 2007
NORDIC BUSINESS REPORT-29 January 2007-Auriga Industries A/S issues profit warning(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Danish agricultural machinery and plant protection chemicals group Auriga Industries A/S issued a profit warning on Monday (29 January) cutting its full-year pre-tax forecast from a profit of DKK50-100m to a loss of approximately DKK100m.
The downward adjustment is mainly due to the plant protection chemicals subsidiary Cheminova's continued problems in Brazil. The Brazilian operations have during the year suffered from weather problems and the weak Brazilian Real, which together have created cash flow problems for the farmers. During the fourth quarter Cheminova also had product problems.
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Auriga Industries, headquartered in Lemvig in Denmark, comprises the chemicals subsidiary Cheminova, the agricultural machinery business Hardi International and the thermal insulation materials company Skamol. The company is listed on the Nordic Exchange in Copenhagen.
One British pound (GBP) is worth approximately 11.07 Danish kroner (DKK).
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