KSG Agro released unaudited financial results for the first quarter of 2012, indicating significant improvement compared to the same period of 2011. Sales revenues of the company have grown by overwhelming 519% up to USD 4.6 M compared to USD 743 K in 2011 during the same period. At the same time net profit has seen increase of 65.2% to the level of USD 1.8 M compared to USD 1.1 M during the same period in 2011. Company stated that increase in sales revenues is partially due to new diversification program of the company as non-farming sales greatly contributed to company’s net sales increase.

AgroInvest comment: Company stated that net income grew due to changes in value of biological assets. There were no specifications regarding additional (non-farming related) activity that benefited the company. We are aware of the fact that KSG Agro has been the most active over the first quarter in terms of attracting investment funds from various sources.

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