Monsanto has reported its results for the third quarter (Q3) of 2013, with the agricultural group recording higher year-on-year sales, but noting a slip in group profit.
Profit fell 3 per cent on a year-on-year basis, down to US$909m, or US$1.68 per share, from US$937m, or US$1.74 per share.
Net sales for the quarter climbed 0.7 per cent from US$4.22bn in 2012 to US$4.25bn, although revenue in the seeds and genomics segment dropped 2.5 per cent to US$3.05bn.
However, in the agricultural productivity segment, net sales increased 9 per cent to US$1.19bn.
'This is a year where the strength of our global portfolio has really been highlighted, and with the continued strength of our larger, more global business, we're on track to deliver more than 20 per cent ongoing earnings growth in fiscal year 2013 and in a very strong position to build on that success with continued growth next year,' said Hugh Grant, chairman and chief executive officer.
'Our optimism reflects the expanding opportunity we see to unlock successive layers of growth next year and beyond as our focus on farmers, new product platforms and operating efficiency combine to build continued momentum.'
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