Bevo Agro Inc. reports fiscal 2007 results.



    LANGLEY, BC, Oct. 29 /CNW/ - Bevo Agro Inc. (BVO:TSX-Ven.) announces
financial results for the year ended June 30, 2007.
    Sales for the year totaled $19,795,142; compared to $22,036,071 the prior
year. Since Bevo is a major exporter to the US, the increased value of the
Canadian dollar continues to have a negative impact on sales and profits.
    The gross margin increased to 33% of sales, however lower sales in
combination with a $394,615 bad debt write-off contributed to a $279,606 loss.
This bad debt write-off is included in the Operating and Administrative
expenses shown below. For the year ending June 30, 2006, Bevo reported net
earnings of $805,129.
    EBITDA (Earnings before Interest, Taxes, Amortization and Depreciation)
was $3,434,972 for fiscal 2007 and $4,412,000 in the fiscal year ending
June 30, 2006.
    On October 1, 2007, Bevo announced that payment had not been made on the
$5,000,000 convertible debenture to Banyan Capital Partners Limited
Partnership. Banyan has agreed to extend this loan to January 31, 2008. Bevo
is currently negotiating alternative sources of long-term financing with the
cooperation of Banyan Capital Partners.

    
    Financial Summary

    Year ending                      June 30. '07         June 30. '06
    -----------                      ------------         ------------
    Sales                             $19,795,142   100%   $22,036,072   100%
    Cost of Sales                     $13,222,220    67%   $15,004,814    68%
                                      -----------    ---   -----------    ---
    Gross Margin                      $ 6,572,922    33%   $ 7,031,258    32%
    Expenses
    Operating & administrative        $ 1,957,327    10%   $ 1,498,921     7%
    Admin fees, wages & benefits      $ 1,192,093     6%   $ 1,120,337     5%
    Amortization                      $ 1,794,021     9%   $ 1,898,709     9%
    Interest expenses                 $ 1,658,926     8%   $ 1,715,589     8%
                                      -----------     --   -----------     --
    Earnings (loss) from operations  ($    29,445)    0%   $   797,702     4%
    Other                             $    11,470          $   384,177
                                      -----------          -----------
    Earnings before taxes            ($    17,975)         $   797,702
    Income taxes-current             ($   182,898)        ($   139,638)
    Income taxes-future               $   444,529          $   132,211
                                      -----------          -----------
    Net earnings (loss)              ($   279,606)   -2%   $   805,129     4%

    EBITDA                            $ 3,434,972    17%   $ 4,412,000    20%
    

    Bevo Agro is North America's leading supplier of propagated agricultural
plants, growing and distributing vegetable, flower, berry and other plant
seedlings to North America's growers. Bevo propagates quality seedlings and
plants primarily for wholesale vegetable greenhouse growers, field growers and
nursery operators from its 34 acre production facility.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or the accuracy of this news release.





For further information:

For further information: Jack Benne, President Bevo Agro Inc., Phone:
(604) 888-0420, Fax: (604) 888-8048, Email: jackbenne@bevofarms.com


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