Kernel manager buys company shares worth $768,700

14:29, 25.03.2016 1 min read

A company, controlled by the manager of Kernel Group, in the period from March 16 to March 18 purchased 52,029 shares of the holding company of the group, Kernel Holding S.A. (Luxembourg), on the Warsaw Stock Exchange (WSE).

According to a posting on the website of the exchange, the average price of shares was PLN 56.50 per share ($14.77 per unit at the rate of the National Bank of Poland on March 24).

Kernel is a vertically integrated company which has been operating in the Ukrainian agribusiness sector since 1994. The group produces sugar and sunflower oil, distributes bottled oil under the brand names Schedry Dar, Stozhar and Chumak Zolota, exports oil and grain, and provides elevator storage services for grain and oilseeds.

Kernel in the first half of the 2016 fiscal year (July 2015-June 2016) saw net profit rise by 79%, to $140.4 million while revenues fell by 19%, to $998.7 million.