GreenStar Agricultural Reports 50% Increase in Net Earnings for Q3 2013
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/21/13 -- GreenStar Agricultural Corporation (TSX VENTURE: GRE) ("GreenStar" or the "Corporation") today announced its financial results for the three month and nine month periods ending September 30, 2013.
"Despite challenging economic conditions in both the domestic Chinese and international markets, the Corporation managed to substantially grow both its top line revenues and net profit," said Mr. Guan Lianyun, Chairman and CEO of GreenStar. "GreenStar's increased land base continues to have a positive effect on operational results as demonstrated by the increase in revenues and earnings from fresh agricultural produce and specifically the significant increase in sales volumes from bamboo shoots and mature bamboo trees. We believe that GreenStar is well positioned to continue this path of growing revenues and profits as the fresh produce and canned product operations continue to expand."
Q3 2013 Financial Highlights
GreenStar invites readers to review Management's Discussion & Analysis, as filed on SEDAR, for a more complete review and analysis of the Corporation's financial information and performance.
About GreenStar Agricultural Corporation
GreenStar operates two main divisions, agricultural and food processing. The agricultural division is involved in the cultivation and harvesting of agricultural products such as fresh fruit and vegetables, for sale either directly as fresh fruit and vegetables or canned, and sold overseas and domestically. The food processing division is primarily involved in the processing of canned food, which includes canned tomato paste, canned boiled bamboo shoots, canned oranges, canned peaches and various other types of fruits and vegetables.
GreenStar has been operating for over 19 years. Through the application of science and technology in production, quality control and assurance, and business operations and management, GreenStar has focused on maintaining product and reputational excellence with a high standard of food quality. Key assets include a well established management team, modern production facilities, and a close partnership with local farmers.
GreenStar Agricultural Corp. is listed on the TSX Venture Exchange under the symbol "GRE".
For further information on GreenStar please visit our web site at .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute ''forward looking'' statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.
When used in this press release, such statements may use such words as ''may'', ''will'', ''expect'', ''believe'', ''plan'' and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward looking information in this press release includes management's belief that the Corporation will continue to grow its revenues and profits and enhance shareholder value. These forward looking statements involve a number of risks and uncertainties. Some of the factors that could cause actual results to differ materially from those expressed in or underlying such forward looking statements are the effects of, as well as changes in: international, national and local business and economic conditions; political or economic instability in the Company's markets; competition; legislation and governmental regulation; and accounting policies and practices. The foregoing list of factors is not exhaustive. Please see the Company's annual MD&A dated April 25, 2013, available on , for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
Contacts:
GreenStar Agricultural Corporation
Robert Macdonald
(416) 849 3858
Investor Cubed Inc.
(647) 258-3311, (888) 258-3323
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Datum: 21.11.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 1285848
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