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14 Nov, 2008 07:53

Razgulay posts 1H 2008 Net Profit of $26.9 million

Razgulay posts 1H 2008 Net Profit of $26.9 million

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. 

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