Nov 14 (Reuters) - Canada’s Ag Growth International Inc posted a fall in third-quarter profit as an unusually dry harvest hurt demand for its portable grain handling equipment.
July-September profit fell to C$4.6 million, or 36 Canadian cents a share, from C$15.2 million, or C$1.12 a share, a year earlier.
Sales fell 6 percent to C$81.8 million.
“Sales of portable grain handling, aeration and temporary storage equipment were negatively impacted by a fast and dry harvest in western Canada and an unusual growing season and reduced crop yields in the United States,” Chief Executive Gary Anderson said in a statement.
Shares of the Winnipeg-based company closed at C$30.75 on Friday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Saumyadeb Chakrabarty)