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Bread of Ukraine to get UAH18-20 mn profit in 2006
22.06.2006 09:14 "Agro Perspectiva" (Kyiv) —
As to Serghiy Khoroshailov (State-owned Joint Stock Company Bread of Ukraine Chairman) press-conference report, Bread of Ukraine expects to receive UAH18–20 mn profit as of 2006 results. Khoroshailov declared Company is going to start actively functioning on grain market, in part. to purchase grain for big trading companies as well as to buy grain up to mortgage schemes. As earlier reported, Bread of Ukraine had ended 2006 first quarter at UAH5,000 net profit; Company had ended 2005 at UAH22.998 mn loss. Company Bread of Ukraine was founded in 1996; presently Company incorporates 81 grain acceptance/storage system companies. Bread of Ukraine owns 2 port elevators (Odesskiy and Myckolayivskiy). Odesskiy port elevator grain storage capacity totals 100,000 MT (annual transshipment capacity — 1.5 mn MT); Myckolayivskiy port elevator grain storage capacity totals 69,000 MT (annual transshipment — 600,000 MT). Since end 1998 Company suffered financial problems due to having had got in big debts with petrol/gas companies while acting as agrarians fuel/fertilizers shipments intermediary. As to various estimations, Bread of Ukraine debts are ranging within UAH200 mn-UAH1.4 milliard. Company grain annual capacities are calculated upon 7 mn MT storage/4 mn MT processing.
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