PGG Wrightson parent Agria posts wider first-half loss on land use impairments

Fri, 15 Mar 2013

March 15 (BusinessDesk) – Agria Corp, the Chinese parent of PGG Wrightson, posted a wider first-half loss after taking an impairment against rent it had paid on un-used farmland it leases from village collectives. The net loss was 374.8 million yuan (US$60.2 million) in the six months ended Dec. 31, from a loss of 45.6 million yuan a year earlier, the New York stock exchange-listed company said in an SEC filing. Sales fell about 15 percent to about 3.05 billion yuan. Agria completed its acquisition of 50.2 percent of Wrightson, New Zealand’s...

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