Link keeps "market perform" rating on Sao Martinho after operating data

(ADPnews) - Dec 3, 2010 - Link Investimentos has reiterated its "market perform" recommendation on Brazil's sugar and ethanol company Sao Martinho (SAO:SMTO3) following the release of the company's operating figures for the crop year 2010/11 on Wednesday.
The performance was worse than the expected by Sao Martinho, affected by the bad weather conditions during the period, but the results ranked in line with Link's projections.
The production of Boa Vista, one of the company's three plants, is seen to increase in the next crop year, driven by strong investments which the unit has been receiving, Link noted.
The other plants, Sao Martinho and Iracema, are not seen to register significantly higher figures, as they are currently operating at full capacity.
However, the crop year 2010/11 has been marked by sugar production at the maximum, which will impede a significant increase in 2011/12, Link noted.
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Table of Sao Martinho's plants performance in the crop year 2010/11.

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