Kernel Group expects profit to increase 4% to USD 215mn in 2012/13 FY
2012-11-02 10:00:31
Kernel Group plans to increase its net profit by 4% to USD 215mn in the 2012/13 fiscal year (July 2012 to June 2013), reads a statement made by the company. The company also plans to increase its EBITDA (earnings before interest, taxes, depreciation and amortization) next fiscal year by 8.7% to USD 350mn, and proceeds from sales of products by 11.2% to USD 2.4bn against the 2011/12 fiscal year. According to BoD chairman, Andrii Verevskyi, the next fiscal year the company plans to procure additional grain-processing capacities, to expand the land bank to 500,000 hectares, and also to build a grain storage of the volume about 200,000 tonnes. In addition, in connection with approaching the Russian market in the 2012/13 fiscal year Kernel Group plans to reproduce in Russia the same supply chain as in Ukraine: large-scale cereals export and processing oil-bearing crops.