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Author: Starrob Big funky green star, 20000 posts Top Favorite Fools Old School Fool Ticker Guide Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 897  
Subject: Cresud S.A.C.I.F. y A. Announces Results Date: 5/15/2012 3:05 AM
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"BUENOS AIRES, Argentina, May 14, 2012 /PRNewswire via COMTEX/ -- Cresud S.A.C.I.F. y A. CRESY -8.55% (base:CRES), today announces results for the first nine-month period of FY 2012 ended March 31, 2012


Operating income was ARS 501.8 million, a fall of 2.1% as compared to the same period of the previous fiscal year.

Net income for the nine-month period was ARS 67.1 million, 52.7% lower than in the same period of 2011, explained mainly by exchange rate differences and higher financial losses.

During this period, Argentina has experienced a severe drought caused by the "La Nina" effect, which affected the country's core productive area, where Cresud has most of the farms leased from third parties."

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