Dual listed grain handler Viterra (ASX:VTA, TSE:VT) generated an 83 per cent increase in net earnings in the 2011 financial year, hitting about $AUD252 million in the 12 months to the end of October.
The result was boosted by strong contributions from its agri-products operations, higher volumes for the Australian grain handing and marketing operations and a solid performance from the processing operations.
Over the 2011 financial year Viterra’s EBITDA grew 36 per cent to about $AUD666 million, underpinned by stronger sales revenue in all three of its business segments.
In the same period Viterra invested in a new malt factory in Australia and a new canola crush plant in China.
Looking ahead the company is optimistic and says, while the current economic environment in challenging, it is confident in its business model and has increased its dividend by 50 per cent.
Viterra has declared a dividend of $C0.15 or about $AUD0.14.
