17:20 30.04.2015

Agroton sees large rise in net loss in 2014

1 min read

Agroton agrarian group (Luhansk region) saw $80.49 million in net loss in 2014, while in 2013 the loss totaled $5.69 million, the company said in a report posted on the Warsaw Stock Exchange (WSE).

Agroton said that its revenue fell by 28%, to $58.968 million and gross profit grew from $374,000 to $18.754 million.

The company said that the poultry farming business has been temporarily abandoned due to the military clashes and armed conflict in eastern Ukraine.

The board of directors does not expect major changes in the principal activities of the group in the foreseeable future.

As reported, in November 2014 Agroton said that the company in connection with the military operations on the territory of Luhansk region will stop its poultry business in the region, which will lead to writing off more than $15 million.

Agroton has been working on the market of Ukraine since 1992. It specializes in growing grains and oilseeds, production and sale of animal goods. The land bank of Agroton is about 150,000 ha - located in Luhansk and Kharkiv regions. The group owns two poultry farms in Luhansk region.

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