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Ukraine’s Agroton First-Half Profit Rises 22% on Higher Sales
02.09.2011 13:04 "Agro Perspectiva" (Kyiv) —
Agroton Public Ltd. (AGT), an agricultural producer in Ukraine, said first-half profit climbed 22 percent on higher sales.
Net income climbed to $34.2 million, from $28.1 million a year earlier, the company, which is based in Luhansk in the eastern part of Ukraine, said in an e-mailed statement today.
Crop sales revenue more than tripled on higher average sunflower and wheat selling prices and higher sales volumes of the crops, Agroton said in the statement.
«We will continue to drive the growth in the second half,» Chief Executive Officer Iurii Zhuravlov in the statement.
The company may expand its existing 151,000 hectare land bank by an additional 50,000 hectares this year, Zhuravlov said.
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