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Agroliga Group PLC announced the land bank expanding for additional 620 ha
28.03.2014

Agroliga Group PLC 27/03/14 signed long-term lease agreement for 620 ha of the land in Derhachevski district of Kharkov region. Agreement was signed for a 5 years with right of continuation and first refusal. Thus improve the resource base and the profitability of agricultural holding. With the expanding of land, Agroliga Group will also increase its production capacity in the sector of agricultural crops.

In the nearest two weeks Agroliga will start sawing at the new land plot, mostly with sunflower. Expanding is covered with own financial resources, without any additional loans.

 

- “The new land plot joined to the Agroliga Group and started new branch in Derhachevski district, as it was once before in Dvurechanski district. It is only 60 km from headquarter of the Group, and we are looking now for a new additions in this area. Agroliga group continue to expand according our strategy and going to rise to 12,5 thousands ha in the coming years.” - says Oleksander N. Berdnik, President of the Board of Directors of Agroliga Group PLC.

GOOD FINANCIAL RESULTS

In 2013 Agroliga Group generated 3,61 EUR million net profit and revenues on sales of 16.7 EUR million. At the same time in 2013, the company has realized 98 percent of projected forecasts for revenues as well as projected 101 percent of net profit. In next two years Group is going to expand land bank 1.5 times and implement new oil extracting technology at the oil refinery in New Vodolaga.