Kernel corrected 2013 financial forecast
2013-03-01 11:56:02
According to the official information released by the company, its net profit will amount to USD 200 M at the end of 2013 marketing year, June 30, 2013. This forecast is exactly 7% lower compared to the forecast made in 2013. At the same time net revenues forecast figure was increased by 16.7% from USD 3.4 B to USD 2.8 B. EBITDA was left at the same level of USD 350 M. Kernel did not make any official statement regarding changes in the forecast.
AgroInvest comment: We assume growth of prices for raw materials for the company, leading to higher Cost of Goods Sold figure, leading to lowered expectations for net profit.