Ukrproduct received 0,7 mln net loss in 2013
According to the annual report published at official site of Ukrproduct, the company reported total assets of approximately GBP 32.9 million as at December 31,2013 and consolidated revenues of approximately GBP 52.2 million for the twelve months ended December 31,2013.
Gross profit for the period fell 20% to £ 7,2 million, and operating - down by 60% to £ 0,8 million.
As it was noted in the company, its business, as well as the activities of other companies in Ukraine, is negatively affected by economic and political instability in the country. Also, the financial results for 2013 reflect the sensitivity of milk production to high commodity prices.
Operating income, as specified in the the report, has been reduced by the increase in interest payments on the EBRD loan, which was granted by the group to upgrade Starokonstantinovsky dairy plant.
In total, over 2013 "Ukrprodukt" received £ 0,7 mn loss, at the same time, in 2012 profit was £ 0,85 million
*Ukrproduct’s securities are traded under the symbol “UKR” on AIM, a market operated by the London Stock Exchange. Ukrproduct Group Ltd is one of the leading Ukrainian producers and distributors of branded dairy products and kvass, a traditional fermented beverage.The Group’s product portfolio includes processed and hard cheese, packaged butter, skimmed milkpowder (SMP) and kvass.Ukrproduct has built a range of recognisable product brands (“Our Dairy man”,“People’s Product”, “Creamy Valley”, Molendam”, “Farmer’s”) that are wellknown and highly regarded by consumers. The Group has modern production facilities that comprise four dairy plants in western and central regions of Ukraine (Zhytomyr, Starokonstantyniv, Krasyliv and Letychiv) with a total annual integrated capacity of approximately 60,000 tons of dairy products. With its own fleet of more than 200 vehicles, Ukrproduct has one of the largest logistics and distribution networks in Ukraine which covers the country’s eight major cities.
Source: ukrproduct.com, latifundist.com
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