First quarter 2011 Trading Update
Date:
May 12, 2011
Current business first quarter 2011
Amsterdam Commodities (Acomo) reports that the activities in the first quarter 2011 continued to develop positively. Trading was very active and the prices of most commodities remained high. All the activities of the Group were profitable and in line with the favorable trend of the fourth quarter 2010.
Markets are increasingly nervous as a result of the high commodity prices and we must remain very alert. An additional point of attention is the volatile development of the US dollar exchange rate against the euro.
The first quarter 2011 developments allow for some optimism, after an excellent year 2010 and with the knowledge that the subsidiaries that were acquired in 2010 will contribute a full year to the results. Continued favorable market circumstances are, however, never a certainty. We cannot forecast the further development of the markets and the results of the Group in 2011. We are, however, confident that all activities of the Group will continue to generate profitable results and that our talented teams will continue to develop the business in all market circumstances.
The Management and Supervisory Board
Amsterdam Commodities (Acomo) reports that the activities in the first quarter 2011 continued to develop positively. Trading was very active and the prices of most commodities remained high. All the activities of the Group were profitable and in line with the favorable trend of the fourth quarter 2010.
Markets are increasingly nervous as a result of the high commodity prices and we must remain very alert. An additional point of attention is the volatile development of the US dollar exchange rate against the euro.
The first quarter 2011 developments allow for some optimism, after an excellent year 2010 and with the knowledge that the subsidiaries that were acquired in 2010 will contribute a full year to the results. Continued favorable market circumstances are, however, never a certainty. We cannot forecast the further development of the markets and the results of the Group in 2011. We are, however, confident that all activities of the Group will continue to generate profitable results and that our talented teams will continue to develop the business in all market circumstances.
The Management and Supervisory Board
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