Ag Growth Releases 2013 Results

Ag Growth International Inc. announced financial results for the 3- and 12-month periods ended Dec. 31, 2013. Trade sales for the fourth quarter were $88 million, up 47% over the same period last year, with annual sales of $358 million, up 14% over last year.

“We are pleased to report record results for the fourth quarter and fiscal year 2013,” said Gary Anderson, President and Chief Executive Officer. “It is significant to note that the strength of our results was broadly based within our business, with fourth quarter sales records in Canada, the United States and offshore, and robust demand both on-farm and commercially.

Offshore, AGI reported its fourth consecutive record year in 2013 as sales grew 29% to over $92 million.  AGI Association Member Since 2005  aggrowth.com 

Additional Comments Regarding Ukraine

"AGI's plans for 2014 include a continuing significant amount of business in Ukraine and a substantial amount of this business has been committed as at the date of writing. We have been in regular contact with our customers in the region and to date there has not been an indication that their capital expenditure plans have been impacted by the recent events. Our customers have requested we keep on schedule and accordingly we continue to ship product to Ukraine as we have throughout Q1.

"The situation in Ukraine and the region is very fluid. Although at this time our customers have not changed their view with respect to capital projects this may change if the situation worsens. Our business may also be adversely affected in the event of negative developments with respect to currency controls, trade sanctions or export credit agency support, a deterioration in or expansion of the current political, social or military situation or if the current situation is protracted."

Full Release http://farmequip.org/media_center/Member%20PR#216