March 14, 2011 / 1:19 PM / 7 years ago

UPDATE 1-Ag Growth Int'l Q4 profit falls

* Q4 rev up 17 pct

* Expenses rise 24 pct

March 14 (Reuters) - Grain handling equipment maker Ag Growth International Inc’s quarterly profit fell partly hurt by higher operating expenses.

October-December profit fell to C$1.9 million, or 15 Canadian cents a share, compared with C$3.6 million, or 27 Canadian cents a share, last year.

However, revenue rose 17 percent to C$54.9 million.

The company’s expenses rose 24 percent to C$9.4 million from a year ago.

Ag Growth said it expects modest growth in sales of portable grain handling equipment and forecast capital expenditure to be flat in 2011. Last year the company had a capital expenditure of C$3.3 million.

The company also said its order backlog for commercial equipment is considerably higher than the year-ago period.

Shares of the company closed at C$50.07 on Friday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Gopakumar Warrier) (Reporting by Aftab Ahmed in Bagalore)

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