Kernel, one of the largest Ukrainian agricultural groups, in the second quarter of the 2017 fiscal year (FY), which began in July 2016, saw net profit fall by 17.6%, to $97.032 million.
According to a report on the company's website, its revenues increased by 6.2% over the period, to $659.28 million, gross profit decreased by 5.5%, to $157.14 million, operating profit by 10.9%, to $116.08 million.
EBITDA in October-December decreased by 10%, to $130 million due to a high competition in the market of sunflower seeds, as well as in connection with changes in the structure of sales in agriculture. These factors are offset with a high grain yield and a good business infrastructure, the company said.
Proceeds from oil sale in the second quarter of the 2017 FY increased by 4.6%, to $331.4 million, from sales of bottled oil decreased by 9.4%, to $37.2 million, grain by 7.2%, to $277.1 million, transshipment services at export terminals decreased by 5.7%, to $16.4 million, crop storage grew by 41.9%, to $32.2 million.
In the first half of the 2017 FY Kernel saw net profit rise by 13.7%, to $161.3 million, revenues by 4.5%, to $1.04 billion, gross profit by 4.7%, to $251.8 million, operating profit by 2%, to $174.6 million.
EBITDA amounted to $202.24 million, which is 0.5% more than in the first half of 2016 FY.
