Rusagro's revenue drops in the second quarter of 2018 by 6%
23 July 2018
The revenue of the Russia-based agroholding Rusagro decreased in the second quarter of 2018 by 6% or RUB 1.2 billion ($ 19 million), in annual terms, to RUB 17.9 billion ($ 283.7 million) due to the reduction in revenue of sugar and meat business. The revenue of the sugar segment declined by 24% to RUB 5.5 billion ($ 87 million) due to a drop in sugar sales. The revenue in the meat segment decreased by 4% to RUB 5.1 billion ($ 80.8 million) as a result of lower prices for livestock pigs. The oil and fat business grew by 6% to RUB 5.6 billion ($ 88.7 million), due to the increase of bottled oil sales. The profit of the crop segment increased by 31%, to RUB 1.8 billion ($ 28.5 million) as a result of the increased prices and volumes of grain sales.