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Economy 2019-02-15T04:29:30+02:00
Ukrainian news
Norges Bank Concentrates 5.1% Of Mironivsky Hliboproduct

Norges Bank Concentrates 5.1% Of Mironivsky Hliboproduct

Norges Bank has concentrated 5.05% of global depository receipts (GDR) of Kyiv-based Mironivsky Hliboproduct, one of the largest poultry meat producers.

This is said in a statement by Mironivsky Hliboproduct posted at the London Stock Exchange, Ukrainian News Agency reports.

According to the report, Mironivsky Hliboproduct was informed about Norges Bank's crossing the threshold on GDRs of Mironivsky Hliboproduct (the threshold was 5,394,991 GDR).

As Ukrainian News Agency earlier reported, in 2017, Mironivsky Hliboproduct boosted its net profit 3.3 times to USD 230 million year over year (then the net profit of the company made USD 69 million).

At that the net revenues of the company rose by 13% from USD 1.135 billion to USD 1.288 billion.

According to the report, export earnings of the company made USD 732 million, 57% of the total earnings.

The company also boosted its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 11% to USD 459 million.

In the fourth quarter of 2017, the company cut its loss by 4% to USD 27 million year over year and raised its net revenues by 2% to USD 318 million and its EBITDA by 22% to USD 88 million.

In 2017, the company cut its domestic poultry meat sales by 9% to 311,743 tons, and boosted exports by 16% to 220,980 tons year over year.

The share of company's exports in the total volume of sales rose from 36% in 2016 to 41% in 2017.

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