Agroliga Group PLC had an EUR 5,54 million of revenues in 2010

An increase of more than 130 percent

Agroliga Group PLC published first report on the financial results for 2010. Last year was very successful for Agroliga group, which reached 5.54 million in revenues, as compared to 2009 represents an increase by up to 130 percent. The company generated in 2010, EUR 2.91 million net profit, a but 59% of it were formed as goodwill from the consolidation of the group, which occurred late June 2010, and cannot be compared with previous financial data.

- „According to the report of the United Nations and the Organization for Economic Cooperation and Development, the Ukrainian agro-industrial sector in which Agroliga group operates, to the 2019 will increase by one third, and its production will increase by 29 percent. Globally, this puts Ukraine at the second place in the agro-industrial sector.“- says Oleksander N. Berdnik, President of the Board of Directors of Agroliga Group PLC.

He also referred to the financial forecasts and ongoing activities.

- “In 2010, we have completed 123,78 percent projected revenue and 92.23 percent at the level of net profit. This was possible thanks largely to continuous price increases in the agricultural market. Currently, we realize the program of increasing productivity by 25-37 percent and to this end we have acquired a second production line for vegetable oil. Agroliga Group also launched an intensive program of crops, which is expected to result in reaching 30-40 percent higher yields per year. Moreover, our Company increases the number of dairy cattle, which now counts 730 cows. By the end of this year, this number will increase to 800-850 units. Over the next three years - to 1200 pieces."- Oleksander N. Berdnik says.

SELECTED FINANCIAL RESULTS

The full annual report of Agroliga Group PLC is available HERE

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