Ceres Global Ag Reports Financial Results For Q1 FY2017
TORONTO, ON, (November 9, 2016) – Ceres Global Ag Corp. (TSX: CRP) (“Ceres” or the “Corporation”) today announced its first quarter financial and operational results for the three-month period ended September 30, 2016. All amounts are in U.S. currency unless otherwise noted.
“Against a backdrop of low commodity prices and compressed margins, we advanced on the execution of our strategy by focusing our efforts on increasing volume throughput, diversifying our product mix, streamlining operations and strengthening our management capabilities, particularly in trading and merchandizing,” said Robert Day, President and CEO of Ceres Global Ag Corp. “Our progressin the quarter was reflected in the doubling of bushels handled to 25 million, the increase in gross profit by more than 72% to $1.9 million and the quality of customers served. We expect to sustain this momentum through the balance of the year given the merchandizing opportunities provided by this year’s harvest.”