The prolonged drought during calendar 2018 had an adverse effect on crop yields, particularly potatoes and onions. This resulted in better produce prices, boosting H118/19 (to December 2018) revenue, but the associated reduction in inventories resulted in a €2.2m drop in total operating income and a similar fall in profit before tax. Consequently, management now expects FY18/19 (to June 2019) EBIT will be around break-even.
02 Apr 2019
Tonkens Agrar - Calendar 2018 drought affects profits
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Tonkens Agrar - Calendar 2018 drought affects profits
Tonkens Agrar AG (GTK:ETR) | 0 0 0.0% | Mkt Cap: 7.70m
- Published:
02 Apr 2019 -
Author:
Anne Margaret Crow -
Pages:
3
The prolonged drought during calendar 2018 had an adverse effect on crop yields, particularly potatoes and onions. This resulted in better produce prices, boosting H118/19 (to December 2018) revenue, but the associated reduction in inventories resulted in a €2.2m drop in total operating income and a similar fall in profit before tax. Consequently, management now expects FY18/19 (to June 2019) EBIT will be around break-even.