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ForFarmers sees earnings decline in first quarter

Acquisitions helped ForFarmers grow its compound feed volume in the first quarter of 2019, but the cooperative saw small profit growth and a strong decline in earnings before interest, taxes, depreciation, and amortization (EBITDA).

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Acquisitions helped ForFarmers grow its compound feed volume in the first quarter of 2019, but the cooperative saw small profit growth and a strong decline in earnings before interest, taxes, depreciation, and amortization (EBITDA).

Acquisitions completed in the second half of 2018 – Tasomix and Voeders Algoet, in particular – drove total feed volume growth, ForFarmers said, but it saw a volume decline in the Netherlands and the United Kingdom.

In the first half of 2019, the company expects a decline in underlying EBITDA of between 30% and 35% and an underlying net profit decline of between 55% and 60%.