Milkiland released Q1 2012 unaudited results
2012-05-16 15:10:14
Milkiland released unaudited financial results for the first quarter of 2012 as the company is struggling to show positive results. Sales revenue of the company increased by 6% to EUR 67.7 M; gross profit of the company soared 13% to EUR 15 M compared to the same period in 2011, EBITDA dropped 30% to EUR 6.6 M. Finally, net profit decreased 62% to EUR 1.9 M, following gross profit and EBITDA.
AgroInvest comment: Slight increase in sales was not able to compensate growing expenses of the company as Ukrainian government stopeed subsidies to the sector in 2011. However, as re-introduction of milk subsidy was initiated for 2012 once again, the company is expecting to significantly improve its results by the end of 2012.
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