Bloomberg News

Black Earth Retreats to 2-Month Low on 2011 Loss: Moscow Mover

February 24, 2012

Feb. 24 (Bloomberg) -- Black Earth Farming Ltd., a Stockholm-listed Russian grain producer, dropped to the lowest price in almost two months after reporting its net loss widened last year because of bad crop quality.

The shares slid 3.5 percent to 14 kronor as of 5:28 p.m. in Stockholm, the lowest intraday price since Jan. 2.

The company’s net loss widened about 15 percent to $41.7 million in 2011 from $36.4 million a year earlier, according to its annual report, published today.

--Editors: Alex Nicholson, Linda Shen

To contact the reporters on this story: Jack Jordan in Moscow at jjordan22@bloomberg.net; Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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