MHP: net profit fell 63%
13 June 2019
MHP, Ukraine’s leading agroholding, has reported a net profit of $ 33 million in Q1 2019, a 63%-decrease compared to the same period in 2018. Revenue rose 42% to $ 436 million, while operating profit shrank 19% to $ 50 million. EBITDA decreased 7% to $ 83 million. MHP claims the decrease in financial results was caused by non-cash income from differences in exchange rates, increased financial costs due to implementation of leasing standard IFRS 16 and expansion of the Vinnytsia poultry plant.