Grain Alliance posted $2.5 million net loss for 2019
09 July 2020
Grain Alliance, a Ukrane-based agroholding operating 57,000 hectares of farmland, reported net loss of $2.5 million in 2019, as compared to net profit of $14.2 million in 2018. At the same time, revenue rose from $40.2 million to $69.9 million within the same period of time. Gross profit declined from $20.6 to $14.3 million, and operational profit fell from $16 million to $6.9 million.
Meanwhile, EBRD has approved a $7.9 million loan to Grain Alliance so that the company could overcome financial difficulties caused by COVID-19 pandemic.