Business
Operations Update
Operations Update.
About this update from Pacsco Limited
[{"type":"text","content":"\n \nRNS Number : 7175G Agriterra Ltd 11 June 2013 \n \n\nAgriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture\n11 June 2013\nAgriterra Ltd ('Agriterra' or the 'Group')\nOperations Update\n \nAgriterra Ltd, the AIM listed pan-African agricultural group, is pleased to announce an operations update for the year ended 31 May 2013 across its cattle ranching and maize farming/milling facilities in Mozambique and its cocoa trading operations in Sierra Leone.\n \nMozbife: Cattle Ranching, Mozambique\n· 146% increase in revenues from beef operations to US$2.2m (2012: US$0.9m)\n· Successful expansion of cattle operations - herd size increased by 49% and currently stands at 6,869 (2012: 4,601 head)\n· Pedigree breeding herd at Mavonde Stud Ranch and Vanduzi expanded by 118% to 1,525 head - capacity to expand to 4,300 head at Mavonde alone through dam irrigation\n· Achieved average dress out weights of 215kg and average wholesale price of US$4.40/kg\n· 2,145 animals slaughtered including 1,497 head processed at the Mozbife abattoir (2012: 1,076 head)\n· Achieving average value of US$117 per carcass from \"fifth quarter\" (the skin, offal, hooves and head)\n· Two beef retail units now operating in Chimoio and Tete - four further units planned for commissioning by Q4 2013\n· Strong trading achieved at retail units - averaging daily sales of US$3,200 and US$2,800 at Chimoio and Tete respectively\n· Fencing, bush clearing and borehole drilling projects at both Dombe and the new Irmaos Ranch continue\n· Four new centre pivot irrigation systems currently being installed at Mavonde Stud Ranch and Vanduzi farm to increase irrigated pasture potential\n \nDECA & Compagri: Maize Milling and Farming, Mozambique\n· 61% increase in revenues from maize milling business to US$15.6m (2012: US$9.7m) - record turnover for DECA and Compagri facilities\n· 68% increase in maize milled to a total of 46,600 tonnes at DECA and Compagri (2012: 27,690 tonnes)\n· 59% increase in maize sold to a total of 34,500 tonnes at DECA and Compagri (2012: 21,717 tonnes)\n· 4 percentage point dec...