Agria brushes off Wrightson profit warning as ‘temporary setback’

Wed, 15 May 2013

By Paul McBeth May 16 (BusinessDesk) - Agria Corp, the New York Stock Exchange-listed agriculture investor whose top executives left last year, has brushed off local subsidiary PGG Wrightson’s profit warning as a “temporary setback” and is still optimistic about the long-term outlook for the New Zealand rural services firm. Executive chairman Alan Lai, who is also a director on Wrightson’s board, said the New Zealand firm’s forecast that annual earnings will be between 13 percent and 27 percent lower than a year ago was due to “weather and o...

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