"Concern Khlibprom" finished the II quarter with a net loss of 12.5 million UAH.
2011-07-27 14:58:58
Public JSC "Concern Khlibprom" (Lviv) is one of the largest bakery companies in Ukraine, at the end of April-June 2011 received a non-consolidated net loss of 12.51M UAH against 0.51M UAH net profit for the same period in 2010.
According to a report of concern in the disclosure of Securities Commission, its unconsolidated net profit in II quarter increased by 32.9% - to 213.17 mln. Gross profit for April Public JSC in June 2011 decreased compared to the same period of 2010 by 17% - to 27.73M UAH.
The company explains the deterioration in profitability of significant price increases for grain and flour together with rising energy and fuel at the same time set bread prices and limited product profitability.
In order to minimize the impact of these negative factors, the company takes measures towards the concentration of production and its modernization, reduction of energy, renewal of vehicle fleet with more fuel efficient vehicles, but also increases the share of highly profitable products and products with long shelf life.
In general, for the first half, "Khlibprom" faced a net loss of 26.99M UAH compared with a net profit of 0.77M UAH over the same period in 2010. Its net income grew by 27.6% - to 388.65M UAH and gross profit decreased by 9.3% - to 56.25M UAH. Investments of PJSC reached 18.94M UAH for the first half of 2011.