Cresud Swings To Profit In 2015 - Quick Facts

(RTTNews) - Argentine agricultural company Cresud S.A.C.I.F. y A. (CRESY) reported that net gain for the full year 2015 was 756.8 million Argentine pesos or 0.21 peso per share, compared to a net loss of 1.41 billion pesos or 2.15 peso per share last year.

Agricultural business revenue for the year climbed to 2.36 billion pesos from 1.81 billion pesos in the previous year.

Urban properties revenues totaled 2.55 billion pesos, higher than 2.16 billion pesos a year ago.

The company said weather conditions during the crop season were good in the region, allowed it to plant 211,776 hectares and to produce 627,203 tons in the region.

Looking ahead, the company said it expects a "Nino" campaign for 2016 with rain levels above average. In Argentina, due to the current macroeconomic conditions and the profitability equation of the sector, the company is analyzing the surface to plant in owned farms and the surface that will lease to third parties.