Increased revenues from the agricultural spraying division were largely responsible for the nearly 17% rise in Exel Industries Q3 (March-May 2016) revenues of €240.5 million. Sales from the concern’s agricultural sprayer division (includes Agrifac, Hardi, Evrard, Tecnoma and Berthoud), increased by nearly 33% for the quarter to around €135 million. For the first nine months of the financial year (September 2015-May 2016) the agricultural spraying division contributed €291 million to the concern’s total revenues – an increase of over 27%. This sprayer growth is attributed primarily to the effect of the Macron law in France (additional tax depreciation of 40% of the investment price), the resumption of investment in Russia and Ukraine, and strong trading in Australia. The European market remains weak, at last year’s level or lower, and the concern says the situation has not yet improved in the US. “Our third quarter sales held up well against the backdrop of an enduring agricultural crisis in Europe and the US,” says Exel Industries CEO Guerric Ballu. Despite the best efforts of the new Turkish subsidiary, and the winning of a major tender in Russia, Exel’s sugar beet harvester activity is not immune to the sluggish European market, with sales down over 16% during the nine-month period to €50.8 million. However, Holmer is starting to benefit from machinery renewal programs in the Ukraine and Russia, evident by Q3 performance with sugar beet harvester sales up 22% to over €20 million. Overall, total Exel Industries revenue for the first nine months rose by almost 11% to €550 million.