Adama Group Provides Unaudited Preliminary Earnings Guidance for the Third Quarter and Nine Months of 2018
October 15, 2018 at 02:57 am
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Adama Group Provides unaudited preliminary earnings guidance for the third quarter and nine months of 2018. For the third quarter, the combined company expects reported net profit in third quarter of 2018 to range between $22.0 million to $32.0 million (RMB 149.6 to RMB 217.6 million), compared to reported net profit in third quarter of 2017 of $42.3 million (RMB 282.5 million). Reported earnings per share for the combined Company in third quarter of 2018 are expected to range between $0.0090 to $0.0131 (RMB 0.0611 to RMB 0.0889), compared to reported earnings per share in third quarter of 2017 of $0.0181 (RMB 0.1206).
For the nine months, the Combined Company expects reported net profit to be in range between $393.5 million to $403.5 million (RMB 2,512.4 million to RMB 2,580.4 million), compared to reported net profit in the corresponding period of 2017 of $233.9 million (RMB 1,599.5 million). Reported earnings per share for the combined Company in the first nine months of 2018 are expected to range between $0.1608 to $0.1649 (RMB 1.0269 to RMB 1.0547), compared to reported earnings per share in the corresponding period of 2017 of $0.0999 (RMB 0.6830). When compared to the reported net profit in the first nine months of 2017, the increase in the estimated reported net profit in the first nine months of 2018 reflects the recognition of a one-time profit in the first quarter of 2018 on the divestiture of several crop protection products in Europe in connection with the approval by the EU Commission of the acquisition of Syngenta by ChemChina.
ADAMA Ltd., formerly Hubei Sanonda Co., Ltd., is a China-based off-patent crop protection company. Together with its wholly-owned subsidiary, Adama Agricultural Solutions Ltd., the Company is mainly engaged in the development, production and marketing of herbicides, insecticides, fungicides, plant growth regulators and seed treatments. The Companyâs product portfolio consists of various kinds of active ingredients and end-use products. The Company also owns research and development (R&D) and manufacturing facilities across the world, with two main development and operational hubs in Israel and China. The Company distributes its products in domestic market and to overseas markets.