For the first half of 2017, the group's net profit fell by 89% compared to the same period last year and amounted to 226 million rubles the company's Revenue for the period decreased by 1% compared to last year and amounted to 37,75 RUB bn Revenue "Rusagro" for the quarter decreased by 7% and made of 18.97 billion rubles., said in a statement.
The General Director "Rusagro" Maxim Basov said that the company's performance in the second quarter was affected by low sugar prices and grain. "The combination of abundant harvests in Russia, the strengthening of the ruble and lower crude prices continue to exert pressure on margins in all businesses, with the exception of meat units", — said Bass. He also added that in the first half of 2017, the company had record capital expenditures related to the implementation of the project for the production of meat in the far East.
About the company:
The group of Companies "RUSAGRO" – is the largest vertical Agroholding Russia. Currently occupies a leading position in sugar production, pig production, crop production and fat-and-oil business. Land Bank of the group of more than 600 thousand hectares.
Translated by service "Yandex.Translation"
