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Agroliga Group PLC took over agricultural company
Wednesday, 27 July 2011

Press release

26.07.2011 r.

Agroliga Group PLC took over agricultural company

 

Cyprus based Agroliga Group PLC – listed on alternative Warsaw Stock Exchange market NewConnect, a holding company of Ukraine based producer of sunflower oil conducting also grain cultivation and cattle-breeding –  announced the purchase of new company in the industry to the Group. Ukraine based agricultural producer also announced the acquisition of additional 1500 ha of land.

The new company will become a part of Agroliga Group PLC and thus improve the resource base and the profitability of agricultural holding. With the purchase of a new company, Agroliga Group will also increase its production capacity in the sector of agricultural crops.

 

- “The new company in the industry joined to the Agroliga Group. In early May, we conducted the negotiations related to the purchase of this company and we can now say that they were very successful for our holding. We do not want to reveal the transaction price, but we can say that it was a very occasional purchase, because the transaction did not exceed the price of 500 ths euro” - says Oleksander N. Berdnik, President of the Board of Directors of Agroliga Group PLC.

GOOD FINANCIAL RESULTS

2010 year has been very successful for Agroliga Group, which then generated 2.91 EUR million net profit and revenues on sales of 5.54 EUR million. At the same time in 2010, the company has realized 123.78 percent of projected forecasts for revenues as well as projected 92.23 percent of net profit.

 

Agricultural group predicts that in 2011 reach EUR 10.2 million of revenues and over EUR 1.9 million net profit.

 

- “Currently we realize the programme of increasing productivity by 25-37 percent and for this reason we bought a second production line for vegetable oil. In spring we launched an intensive program in spring crops, which is going to result in reaching of 30-40 percent higher yields per year” - Oleksander N. Berdnik adds.

* * *

 

Agroliga Group is Ukraine based company conducting food and agricultural business. The Group produces sunflower oil, grain and breeds milk cows. The Group consists of five companies:

-         Agroliga Group PLC – the holding company based in Cyprus and who was the Issuer in private placement offering.

-         Agroliga operating in Ukraine. It conducts plant production;

-         Mechnikovo operating in Ukraine. It specializes in milk cows breeding and plant production;

-         Agrokom Novaj Vodolaga operating in Ukraine. It conducts sunflower oil production;

-         PLC Liga A operating in Ukraine. It focuses on sales and trading services for other companies in the Group.

The group debuted on the 11th February 2011 on the Warsaw Stock Exchange’s governed NewConnect market. Prior to that the Company conducted private placement from which it received EUR 1 million. These funds will be used for modernization of machine park, increase of production forces and breeding complex. More information: www.agroliga.com.ua

 

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