Monsanto reiterates 2016 EPS forecasts

Monsanto reiterated its forecast for profits in fiscal year 2016, adding that it expected them to start growing again in the following year.

On an on-going basis, earnings per share would come in at the low end of its guidance range for fiscal year 2016 of between $4.40 to $5.10, the company said in a statement.

EPS would begin to grow again the following year, St.Louis-based Monsanto said, and then accelerate at a compound rate in the mid-teens from the end of fiscal year 2017 through fiscal year 2021.

Its core pipeline was also expected to deliver as much as $25bn in net sales at its peak, "with incremental value from new platforms and expected to deliver the fourth consecutive year of more than 20 advancements."

As of 17:04 BST shares in the maker of genetically-modified seeds herbicides were lower by 1.54% to $103.89.