China Farm Equipment posted a 43.75% fall in net profit attributable to shareholders to RMB 1.3 million ($0.26 million) for 1QFY2010 from RMB 2.2 million for 1QFY2009.

Revenue decreased by 10.06% to RMB 50.9 million in Q1 2010 due mainly to a lower sales of combine harvesters and diesel engines.

China Farm says the early planting season was delayed as the Lunar New Year fell in mid-February this year compared with third week of January last year. Also, drought hit certain parts of southern China including Yunnan, Guizhou and Guangxi provinces.

Stiff competitive also affected the sale of diesel engines.