OREANDA-NEWS. May 16, 2011. ASTARTA demonstrated solid financial results on a back of increasing volumes of crop and milk sales as well as favorable markets. Revenues grew 13% to EUR 50,8 million and profit from operations increased 12% to EUR 21,7 million. EBITDA increased 10% to EUR 25,4 million and net profit grew by 1% to EUR 20,2 million.

In the reporting period along with current operating activities management provided for further active development of the Group. ASTARTA took under control two sugar plants and other assets in Kharkiv region to develop its businesses there. Land bank in operation was increased to 225 thousand ha, agricultural- and transportation machinery fleet was boosted by more than 200 modern tractors, combines, trucks and other vehicles. Within the Group's strategy of cattle farming development, a newly uprated feed factory with monthly capacity up to 5 thousand tonnes was launched, and the second phase of modern dairy livestock facility in Poltava region was started. 

Comments of Viktor Ivanchyk, CEO: "Board of directors has set ambitious targets for 2011: to increase  substantially  output and production assets, while maintaining high level of efficiency. We will continue to grow in traditional segments; to pay high attention to products' quality improvement; to invest in energy-saving technologies and bio-energy projects. At the same time, we are looking closely at opportunities in synergetic sectors which can provide further diversification and synergy to the business".