KYIV. March 1 (Interfax-Ukraine) – Elvorti manufacturer of sowing and tillage machinery equipment (Kropyvnytsky, formerly Chervona Zirka) tentatively saw a 5.5-fold rise in net profit in 2016, to UAH 170.43 million.
According to a report on the agenda of the general meeting of shareholders scheduled for April 12, its undistributed profit as of early 2017 was UAH 518.86 million (UAH 348.387 million as of early 2016).
As reported, in 2015 the company saw a 13.7% fall in net profit, to UAH 31.17 million.
Last year Chervona Zirka cut its current liabilities by 15%, to UAH 90.65 million and noncurrent liabilities – by 14.2%, to UAH 154.9 million.
Total debt of the company as of January 1, 2017 totaled UAH 220 million, or twice more than a year ago. Its assets grew by 19.5%, to UAH 786.53 million.
PJSC Elvorti, part of Elvorti Group of businessman Pavlo Shtutman, manufactures sowing and tillage machinery.
Its production facilities can produce 10,800 sowing equipment, 4,156 planter-cultivators and 868 disc harrows.
