Higher Costs Hurt Migao’s Profits

Reuters Africa reported that Migao Corp.’s (TSX:MGO) profits were lower due to higher raw material costs.

As quoted in the market news:

The China-focused fertilizer maker said its profit in the quarter ended Dec. 31 fell to C$3.8 million ($3.80 million) or 7 Canadian cents a share, down from a year-earlier profit of C$8.2 million, or 16 Canadian cents a share.

Click here to read the full Reuters Africa report.