Ros Agro posts higher profits
Ros Agro, the UK-listed holding company behind Russian sugar-to-mayonnaise maker Rusagro Group, has reported a jump in nine-month profits.
Net profit for the period to the end of September stood at RUB12.62bn (US$265.6m), up sharply from the RUB1.88bn generated last year.
Operating profit reached RUB11.92bn, compared to RUB1.82bn a year earlier.
Ros Agro booked a RUB9.39bn gain on the revaluation of biological assets and agricultural produce. Last year, it enjoyed a gain of RUB2.39bn.
Gains from trading sugar derivatives were also more than double than that achieved in the first nine months of 2013, hitting RUB293.9m, versus RUB124.3m a year earlier.
The group enjoyed a 79% jump in sales to RUB41.39bn, with sales rising across all of its divisions.
CEO Maxim Basov said: "The company performed well in all business segments. The company expects to reach the highest annual EBITDA and net income in its history."
Click here for the full statement.
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- General Mills sales woes continue - analysis
- Interview: The Soulfull Project's mission
- Post Holdings 'close to acquiring Weetabix'
- Kraft Heinz cuts jobs in US, Canada
- Recipe-kit firm HelloFresh launches into UK retail
- Mondelez set for union crosshairs next week
- Mondelez plays down impact of union action