11:19 17.02.2015

Cereal Ukraine sees EUR 2.65 mln in net profit in Q4 2014

2 min read
Cereal Ukraine sees EUR 2.65 mln in net profit in Q4 2014

The Cereal Ukraine group of companies, one of the leading cereal producers in Ukraine, saw EUR 2.65 million in net profit in October-December 2014 compared to a net loss of EUR 79,000 in October-December 2013, according to an annual report of the holding company of the group - Cereal planet Plс (Cyprus) posted on the Warsaw Stock Exchange's NewConnect.

The company said that in 2014 the company saw EUR 2.927 million in net profit. Taking into account losses attributable to the hryvnia devaluation, it reached EUR 247,000 in 2014 and EUR 880,000.

Gross profit of the group in 2014 is estimated at EUR 10.252 million. In Q4 2014 it stood at EUR 6.738 million compared to gross loss of EUR 29,000 in Q4 2013.

Sales revenue in Q4 2014 grew by 2.2 times year-over-year, to EUR 8.432 million, and it reached EUR 25.15 million in 2014.

According to the report, profits and losses for 2013 were revised after the audit.

According to the report, cereal production grew by 24% in October-December 2014 and by 29% in 2014, to 29,560 tonnes, from 22,870 tonnes in 2013.

Cereal Ukraine is a leader in cereal production in Ukraine. The company produces products under the Olimp, Kashka-Vkusniashka and Vershyna Yakosti trademarks. Its enterprises produce 4,000-4,500 tonnes of cereal per year.

Cereal Ukraine's assets include land plots of over seven hectares in the city of Kharkiv and in Kharkiv region, warehouses with a combined area up to 7,500 square meters, and a grain elevator with a storage capacity of 8,000 tonnes.

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