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Viterra eyes growth, posts record profit

CP

Viterra Inc. is financially robust and eager to "take on a larger role in feeding this growing world," its chief executive officer said yesterday after reporting record annual results. "Worldwide demand for agricultural products, and the inputs and services needed to produce them, remains strong," Mayo Schmidt said. And he said Viterra is on the watch to take over hard-pressed agribusinesses worldwide.The company earned $288.3-million on sales of $6.8-billion in its financial year ended Oct. 31, up from a prior-year profit of $166-million on sales of $3.5-billion. The August-October quarter produced profit of $46.8-million, up from $842,000 in the year-earlier period. VT (TSX) rose $1.14 to $9.34.

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