World Grain - June 2009 - 15

newsreview
Noble Group first-quarter net profit
down, tonnage volume sets record
HONG KONG, CHINA - Noble Group
announced on May 5 that the company's
2009 first-quarter net profit was $90.2 million on revenues of $6.1 billion, compared
to $167.1 million in the same period in 2008
(and an adjusted $119.3 million, excluding
the impact of one-off gains.) Noble Group's
net profit margin rose to 1.5% compared to
1.3% in the first quarter 2008, excluding
one-off gains.
"Noble's first-quarter results represent a
solid performance in a difficult economic environment," said David Eldon, Noble Group
chairman. "We see weakness in global industrial production, which has reduced input requirements. Nonetheless, Noble's net
profit was satisfactory and the year-on-year
improvement in our net profit margin is a
good indication of Noble's ability to perform
in a down market.
Group tonnage volume during the first
quarter of 2009 rose to a record 49 million
tonnes, a 26% year-on-year increase compared to the first quarter of 2008, the company said. The broad-based increase reflects
Noble Group's increasingly strong presence
in the bulk commodity products as well as
clean fuels, according to the company.
Eldon added that the record increase in
tonnage demonstrated the company's ability
to expand its business despite weak economic conditions. This should also better position Noble when we see improvement in our
markets."

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Dramatic shortfall in South
American soybeans projected
WASHINGTON, D.C., U.S. - It has
been speculated recently that Argentina's
soybean crop may be as low as 31 million tonnes compared with the most recent
Buenos Aires Grain Exchange's forecast of
34 million tonnes, the U.S. Grains Council
(USGC) reported on May 11.
The dramatic shortfall in the Argentine
crop and strong export programs of both
Argentina and Brazil are seen drawing
down Sept. 1 South American soybean
stocks nearly 10 million tonnes from last
year, to the lowest level in five years.
USCG said depleted South American supplies could severely constrain soybean exports out of Brazil and Argentina this fall
and winter, leaving the world dependent
on U.S soybeans to an extent not seen for
nearly a decade.

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Phone: (605) 332-3200
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Fax: (605) 332-1107
E-Mail: sales@hiroller.com
Website: www.hiroller.com

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