Russian agricultural producer, Razgulay Group, has posted a 1H 2008 Net Profit of $26.92 million under IFRS.
The bottom line result is up more than 90% on the same period 2007, with EBITDA coming in at $102.4 million, up 65%, on the back of Revenue of $420.63 million, up 35%. The company attributed the strong performance to increasing grain volumes, attracting greater prices, with sugar generating reduced revenue. Razgulay also revealed that as of the end of October it had more than doubled its land bank since the end of 2007. MTS posts 3Q 2008 Net Income of $516.6 million Veropharm 9M 2008 Net Profit up 61% Novatek posts 11% profit increase for 3Q 2008