OREANDA-NEWS  On 30 September was announced, that ASTARTA Holding N.V. published its consolidated report for the 1st half of 2008 demonstrating strong results of the operations, marketing activities and industry consolidation efforts.

Following its development strategy, the Group substantially augmented its land bank (41% y-o-y) to 155 thousand hectares securing this strategic asset for expanded agricultural operations with the number of agricultural companies under control doubled to the same period of 2007.

For the six months ended 30 June 2008, total Group's revenues were EUR 42.6 million or c. 43% more than in the first half of 2007. On the back of the aggressive growth in crop sales (93% up in the euro equivalent y-o-y), their share in revenues grew to 16% of the total. The increase in sugar sales (32% in the euro equivalent) provided for a 60% share in the total revenues.  Meat and milk sales  contributed 11%  to the total  with 38% y-o-y growth. Due to the rapid growth in grain and dairy prices in the first half of 2008, Group's revenues were growing faster than the cost of sales (43% vs. 19%) As a result, the gross profit grew 133% and net profit 117% to EUR 18.4 million.

In July 2008, the Group acquired the integral property complex of the Narkevychi sugar plant in Khmelnitsky Oblast following its strategy aimed at the geographical diversification and dynamic growth, declared during the IPO in 2006. In accordance with the policy of vertical integration and alongside with the acquisition of Narkevychi sugar plant, the Group creates a network of the agricultural companies controlled by ASTARTA in this region. These companies will be focused on production of grains and oilseeds, as well as harvesting of sugar beet as a raw material for the Group's sugar plants.

Comment of Viktor Ivanchyk, CEO of ASTARTA Holding N. V.:

"Results for the 1st half of 2008 prove the validity of the Company's strategy adopted 5 years ago. Thanks to the scientifically grounded crop rotation system based on the annual succession of crops favorable to soil namely sugar beet, wheat, barley, soy beans, not only do we  obtain high revenues and margins but also improve the quality of our main asset, land, which is the keystone of our success in the future".