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Agria Corporation announces trading update from PGG Wrightson subsidiary


Beijing, China
December 22, 2014

Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced that its subsidiary, PGG Wrightson Limited ("PGW") reiterated its previously issued guidance and reaffirmed its expectation for improvement on last year's operating EBITDA of NZ$58.7 million, excluding earnings of associates.* PGW noted that its financial performance so far in the fiscal year is meeting expectations despite lower forecasted dairy payouts.

Mr. Alan Lai, the Company's Executive Chairman, commented, "We are very pleased to continue to see strong performance from PGW, despite some pockets of challenging market conditions. PGW is an integral element of our global strategy, and its strong performance thus far should drive Agria's overall growth in the first half of the fiscal year. Our renewed focus on investing in our people, infrastructure and products is proving to be worthwhile, as our results continue to improve in each period."

Mr. Mark Dewdney, Chief Executive Officer of PGW, commented, "Our performance thus far in the first half -- despite current market conditions -- highlights the strength of PGW's diverse product and service portfolio across New Zealand and international agricultural sectors. Our confidence remains high in the sheep and beef sectors and this strength should see the business well-placed if we encounter reduced dairy related spend over the remainder of the financial year."

"Further guidance will be provided when our half year results are announced. There remains some uncertainty with respect to the second half of the financial year, as we are starting to see some signs of market softness in areas related to dairy. Livestock, Seeds Australia and South America all make their biggest contributions in the second half, and results are also impacted by weather and commodity prices," concluded Mr. Dewdney.

Agria expects to announce its half year results in late February or early March, with details of the announcement to be confirmed closer to the time.



More news from:
    . Agria Corporation
    . PGG Wrightson Ltd.


Website: http://www.agriacorp.com

Published: December 22, 2014

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