Vanguarda Agro widens loss to USD 39.8m in Q3 2011
Nov 15, 2011 - Brazilian agribusiness and biofuel player Vanguarda Agro (SAO:VAGR3), formerly Brasil Ecodiesel, posted a net loss of BRL 70.3 million (USD 39.8m/EUR 29.3m) for the third quarter of 2011, compared to a loss of BRL 2.6 million in the same period of 2010.
Thus, the company accumulated a BRL 68.3 million net loss for January-September 2011, versus a net profit of almost BRL 21 million in the same period a year ago.
Vanguarda's net operating revenue grew 71.46% to BRL 161.6 million in the three months to September 2011. Operating costs in the period soared 404.72% to BRL 69.55 million.
(BRL 1 = USD 0.566/EUR 0.417)