twitter RSS Feed linkedin acp contact

Lonrho experiences import delays of tractors in Mozambique

Lonrho Agriculture's Mozambique distributor, John Deere, has been affected by delayed tractor imports as well as other equipment arriving into the country causing shares in the company to fall

Tractor AfricaLonrho has been affected by delays in the delivery of contracts and implementation of particular projects in its agribusiness. (Image source: Shared Interest)

The British industrial group said that shares have dropped by 22 per cent after it said it would report a US$5mn to $8mn loss for 2012.

The delays in the delivery of contracts and implementation of particular projects in its agribusiness caused the company loss of profit, it said. 

"Progress in certain areas has been slower than expected in the final quarter, impacting on revenue and profitability in 2012," said Lonrho in a statement.

Forecasters were expecting Lonrho, which has interests in Africa, to reveal a pretax profit of $6.3mn dollars, according to Thomson Reuters.

The company had suffered from a loss in shares of more than 15 per cent at 7.85 pence in early trading on Monday on the London Stock Exchange.


LATEST NEWS IN Agriculture

Norway promises top-up contribution of urgently needed climate finance

Norway promises top-up contribution of u…

On 9 November 2022, Norway, as part of a commitment to triple its support to climate adaptation by 2026, has pledged an additional US$9.5mn contribution of urgently needed climate finance...

Better Cotton signs partnership agreement with IDH and CotonChad

Better Cotton signs partnership agreemen…

Better Cotton recently signed a multi-stakeholder Letter of Intent to participate in the landscape approach, developed with local stakeholders in Chad in conjunction with IDH, intending to work towards improving...

NFU president Minette Batters appointed as ambassador of Farm Africa

NFU president Minette Batters appointed …

Farm Africa, a charity that promotes sustainable agricultural practices, strengthens markets and protects the environment in rural eastern Africa, has announced the appointment of NFU president Minette Batters as an...

AfDB grants US$63.38mn loan to implement agro-processing project in Senegal

AfDB grants US$63.38mn loan to implement…

The board of directors of the African Development Bank (AfDB) Group in Abidjan has approved a loan of US$63.38mn to Senegal to implement the Agropole-Centre agro-industrial processing zone project

Farming innovations which help conserve nature and create jobs

Farming innovations which help conserve …

On World Food Day, farmers in the UK and globally showed how innovative farming methods and techniques can improve lives, help meet global climate targets and produce food without harming...

US$20.5mn renewable energy agriculture project launched in Ethiopia

US$20.5mn renewable energy agriculture p…

On 12 October, the Distributed Renewable Energy - Agriculture Modalities (DREAM) initiative began with the launch of nine renewable energy mini-grids and irrigation systems across Ethiopia

Prev Next

OTHER RELATED ARTICLES - Agriculture

Landesa releases roadmap for agri-business investments

Landesa releases roadmap for agri-busine…

The global land rights group, Landesa, and UK government's Department for International Development (DFID) LEGEND Programme have launched the Resource Platform for Responsible Investments in Property and Land (RIPL) to...

Dry weather conditions and high temperatures likely to reduce harvests in Southern Africa

Dry weather conditions and high temperat…

Poor rains and hot temperatures triggered water stress and adversely affected crop development in several areas of Southern Africa, said FAO

UNECA-GPSDD’s Data for Now to revolutionise Africa's agriculture

UNECA-GPSDD’s Data for Now to revolution…

Agriculture is an industry which is already feeling the impact of COVID-19, including in Africa, which runs the risk of losing its per capita unit production in multiple markets, if...

Annan announces new AGRA president

Annan announces new AGRA president

Kofi Annan, chair of the Alliance for a Green Revolution in Africa (AGRA), has announced the appointment of Jane Karuku as the new president of the organisation

Sustainable agriculture to fight climate change and involuntary migration

Sustainable agriculture to fight climate…

FAO and IOM call for renewed focus on rural development and sustainable agriculture to mitigate climate disasters that are displacing one person every second

Food security: The challenges of abundance

Food security: The challenges of abundan…

Ore Koren, a PhD candidate at the University of Minnesota in Political Science and a pre-doctoral fellow at the Dickey Center at Dartmouth College, talks to Ebin Gheevarghese, Editor, African...

African Potash signs fertiliser development MoU with Uganda

African Potash signs fertiliser developm…

The UK firm, African Potash, has signed an agreement with Uganda to support the development of a fertiliser industry in the country

WFP boosts crop production, builds climate change resilience in Malawi

WFP boosts crop production, builds clima…

The UN World Food Programme’s (WFP) activities in Malawi between 2015 and 2020 have helped communities adapt to a changing climate and enabled them to break out of the cycle...

Zimbabwe seminar to focus on smallholder sector commercialisation

Zimbabwe seminar to focus on smallholder…

Representatives from Zimbabwe's government will be joined by a host of experts and farmers to discuss strategies and ideas for the commercialisation of smallholder agriculture at a Harare seminar

DLG and AVF partner to promote vertical farming

DLG and AVF partner to promote vertical …

The DLG (German Agricultural Society) and the Association for Vertical Farming (AVF) are planning to enter a strategic partnership, to jointly promote the field of indoor and vertical farming, in...

Ghanaian government to boost cocoa sector

Ghanaian government to boost cocoa secto…

The Ghanaian government has launched a multi-million dollar project to resuscitate Ghana's cocoa industry, emphasising the importance of expanding the sector

Nigerian minister expresses concern of lockdown’s impact on food supply

Nigerian minister expresses concern of l…

Sabo Nanono, minister of agriculture, Nigeria, expressed fear of the impact of COVID-19 lockdown on food supply chain

Prev Next