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Published: Thursday, 6/21/2007

The Andersons boosts profit forecast nearly 50%

The Andersons Inc., a Maumee agribusiness, boosted its projected profit forecast for this year by as much as 50 percent more than what it earned last year.

The company said it expects to make $2.80 to $3.05 a share in 2007, up from $2.35 to $2.60 a share it forecast last month and higher than the $2.19 a share it made last year. Its $36.3 million profit on sales of $1.5 billion was a record last year.

Credited for the rosier forecast was a strong second quarter, with increased corn planting by farmers resulting in good sales in the firm s fertilizers. Also, its two ethanol-producing operations are experiencing better margins than expected, it said.

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