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1ST HALF: AG GROWTH'S SALES UP 46%, NET INCOME UP 80%
Source: Ag Growth news release

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Ag Growth International Inc. (TSX: AFN) ("AGI", the "Company", "we" or "our") today announced its financial results for the three and six-month periods ended June 30, 2017, and declared dividends for September, October and November 2017.

Trade sales and adjusted EBITDA significantly exceeded previous highs due to AGI's strong market position in the robust Canadian Farm and Commercial markets, improving demand for portable grain handling equipment in the U.S. and the contribution of recent acquisitions as AGI continues to diversify its geographic and end market exposure. Higher sales and a continued focus on operating margins resulted in a significant increase in adjusted EBITDA, profit and profit per share compared to the prior year.

"Strong performance in our Farm and Commercial business units resulted in record second quarter results." said Tim Close, President and CEO of AGI. "We are seeing positive year-over-year increases in many parts of AGI as we focus on our customers and realize the benefit of both organic investment and recent acquisitions. Acquisitions in 2016 and 2017 added meaningful contribution to these results however we are just starting to see the potential of our investments in Brazil, our Fertilizer and Seed platform, our global Commercial platform and our Food equipment division. We have made substantial investments in these initiatives, we are making good progress on each, and we are excited about the near-term growth potential as we pursue our Field to Consumer strategy. We are also continuing to invest in these initiatives in terms of people and capital while exploring new opportunities to expand each platform."


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