Brief: Avangardco Investments Public Q4 Net Result Turns To Profit Of $13.1 MLN

Avangardco Investments Public

29/03/2018 07:06

March 29 (Reuters) - Avangardco Investments Public Ltd
 AVGRq.L :
    * Q4 NET PROFIT WAS US$13.1 MLN (Q4 2016: NET LOSS OF
US$17.8 MLN)
    * SAYS Q4 CONSOLIDATED REVENUE AMOUNTED TO US$43.7 MILLION,
A
DECREASE OF 45% YOY (Q4 2016: US$79.6 MILLION)
    * Q4 EBITDA WAS UP BY 108% TO US$23.6 MILLION
    * FY PRODUCTION OF SHELL EGGS TOTALLED 2,399 MILLION UNITS,
A
DECLINE OF 4% YOY
    * FY SALES OF SHELL EGGS AMOUNTED TO 1,869 MILLION UNITS, UP
BY
23% YOY
    * FY EXPORT OF SHELL EGGS AMOUNTED TO 558 MILLION UNITS, UP
BY
121% YOY
    * ANTICIPATES THAT MARKET ENVIRONMENT WILL REMAIN
CHALLENGING IN
2018
    * AVIS POULTRY COMPLEX RECEIVED APPROVAL TO EXPORT CLASS
(GRADE) A
EGGS TO EU EFFECTIVE FROM FEBRUARY 28
    * BELIEVES THAT DOMESTIC DEMAND CONTRACTION MAY HAVE PASSED
ITS
LOWEST POINT AND THERE WILL BE NO FURTHER SHARP PRICE
FLUCTUATIONS
    * EXPECTS A SLIGHT INCREASE IN SHELL EGG OUTPUT IN 2018

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