Kernel released Q1 2012 unaudited results
2012-05-18 12:32:20
Kernel, the only company in UAIndex, which shares were labeled as “blue chips” on Warsaw Stock Exchange announced unaudited Q1 2012 results. According to the financial report provided by the company, sales revenue has indicated growth of 16.2% reaching USD 598.9 M compared to the same period of 2011 (USD 515.4 M). Income from operating activities decreased 45.3% to USD 44.8 M from USD 81.8 M in 2011. Company experienced 52.2% net profit drop to USD 37.2 M. Credit lines available for the company during this period amounted to USD 1.6 M compared to USD 878 K in 2011.
AgroInvest comment: The main reason for major profitability drop is declining prices for grains during the period as well as drop in prices for sunflower oil. Net revenue growth was contributed to higher trading volume of grain for the period.
For more detail please refer to the UAIndex Daily (May 18 issue).
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