AGI Reports ‘Solid’ Quarter

Ag Growth International recently announced its financial results for the three months ended March 31.

It reported profit of roughly $4.95 million for the quarter compared to $5.13 million in 2017. Adjusted profit was $11.5 million this year compared to $7.5 million last.

Trade sales improved significantly in 2018, rising from $154.7 million in 2017 to $214.1 million this year.

“We saw solid performance to start 2018, with 38 percent sales growth and a 20 percent increase in adjusted EBITDA,” said President and CEO Tim Close. “The increase over 2017 was driven by healthy organic growth as well as significant contributions from key acquisitions made over the last 12 months, as we have added new products and capabilities in grain storage and handling, fertilizer, applied technology, and engineering and project management.”

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