Myronivsky Hliboproduct (MHP) in July-September 2016 saw $8 million of net loss compared to $24 million of net profit a year ago.

According to a financial report of the company published on Wednesday, revenue grew by 6%, to $369 million, gross profit – by 20%, to $89 million and earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 9%, to $105 million.

The agroholding saw $86 million in net profit in January-September 2016 compared to net loss of $37 million year-over-year. Revenue did not change, being $899 million.

Exports revenue in Q3 2016 totaled $201 million or 54% of total revenue over the period. Operating profit declined by 1%, to $79 million and EBITDA margin – to 28% from 33% a year ago. Non-cash foreign exchange translation loss in Q3 2016 amounted to $51 million ($35 million in Q2 2015).

In January-September exports revenue reached $455 million or 51% of total revenue. Operating profit fell by 14%, to $270 million and EBITDA margin was 38% (43% last year). Non-cash foreign exchange translation loss totaled $88 million.

"The company is investing to continue growing organically in poultry capacity in Ukraine and to increase its exports mainly to MENA and EU," MHP said.

The Company established a processing plant in the EU and opened a sales and distribution office in UAE following its strategy of increasing and diversifying exports.

MHP is the largest poultry producer in Ukraine. It also deals with production of grain, sunflower oil, meat goods.