Brasil Ecodiesel refrains from projections for merged company revenue
(ADPnews) - Dec 10, 2010 - Biofuel maker Brasil Ecodiesel (SAO:ECOD3) has no projections for the revenue of the company to result from its merger with local agricultural group Maeda, Brasil Ecodiesel said in a note yesterday.
The statement came in response to an article of Brazilian daily O Estado de Sao Paulo from Wednesday, which estimated the merged company's revenue at over BRL 700 million (USD 409.3m/EUR 308.7m) in 2011.
The newspaper probably calculated this value based on the results of Brasil Ecodiesel and Maeda's companies during the current year, Brasil Ecodiesel said.
Maeda's revenue totalled BRL 246 million between January and September, while Brasil Ecodiesel's sales came in at BRL 404 million in the period.
The values referring to the current year, however, are no guarantee for the future revenue, Brasil Ecodiesel stressed, recommending to investors to ignore the projection in the publication.
(BRL 1 = USD 0.584/EUR 0.442)