The Agroliga Group (Kharkiv region) saw EUR 4.21 million in net profit in 2017, which is 11.4% more than in 2016.
According to a company report on the Warsaw Stock Exchange (WSE), its revenue grew by 2.1%, to EUR 21.79 million.
Gross profit grew by 30.6%, to EUR 5.97 million. Operating profit rose by 33.9%, to EUR 5.2 million.
Assets increased by 40.5%, reaching almost EUR 25.6 million as of December 31, 2017.
The company plans to launch a new vegetable oil refinery in the village of Nova Vodolaha (Kharkiv region) in the first quarter of 2018. The total cost of construction and procurement of all the required components and equipment was estimated at $9 million, of which $ 6.7 million was financed using external sources.
The new refinery will have the opportunity to vary the volume of processing of raw materials from 100,000 tonnes to 170,000 tonnes without additional investment in equipment, and if small investment is attracted, the capacity can be increased up to 280,000 tonnes per year.
The refinery will also be able to reconfigure equipment for soybean and rapeseed oil refinery without additional investment in equipment.
Agroliga Group has been working in the Ukrainian market of agricultural products since 1992. Its enterprises are engaged in growing grain crops, processing sunflower seeds and dairy cattle breeding.