9m 2010 financial results statement
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Agroton Public Limited, leading agricultural producer in eastern Ukraine,announces its reviewed financial results for the nine months of the year ending 30 September 2010.
Key financial highlights
· Total revenue (sum of sales revenue and fair value change) increased by 31% to US $92.1 million (9m 2009: US $70.4 million)
· Gross profit increased by 81% to US $40.6 million (9m 2009: US $22.4 million).
· EBITDA increased by 52% to US $37.7 million (9m 2009: US $24.8 million).
· Net profit increased by 105% to US $24.8 million (9m 2009: US $12.1 million).
· Net profit margin increased by 10 percentage point.
Key operational highlights
· Land bank under control increased to 151 ths hectares (9m 2009: 134 ths hectares).
· 96 ths tonnes of sunflower harvested.
· 114 ths tonnes of wheat harvested.
· Wheat price increased to 172 USD/t (9m 2009: 125 USD/t) (excl. VAT).
· Sunflower price increased to 421 USD/t (9m 2009: 234 USD/t) (excl. VAT).
Commenting on the results, Iurii Zhuravlov, Chief Executive Officer of Agroton Public Limited, said:
“We had good year, delivered strong 9m 2010 results. 2010/11 agricultural year we focus on reducing costs to become leader in cost vs. yield. Even if commodity prices remain at current level Agroton has potential to achieve substantially higher returns next year”.
Financial overview
Link to 9m 2010 results statement:
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