OREANDA-NEWS. On 18 August 2008 was announced, that ASTARTA Holding N.V. published its consolidated report for the second quarter of 2008. For the three months ended 30 June 2008, the total Group's revenues grew 48% y-o-y to EUR 22.7 million. The Group raised grain sales 181%, sugar 41%, and in cattle farming 11% thus virtually doubling profit before tax to EUR 11.2 million vs. EUR 5.9 million and in net profit to EUR 11.7 million vs. EUR 5.4 million y-o-y.

Comment of Viktor Ivanchyk, CEO of ASTARTA Holding N. V.: "In general, the reporting period was marked by a continued expansion of the whole ASTARTA's business, strong revenue growth and high margins, resulting from successful operations and marketing, as well as favorable situation in the world markets.

In accordance with our strategy of organic growth, in the reporting period the Group extended the area of agricultural land in operation to over 155,000 hectares.

Contrary to the dominating trend of cutting beet areas in Ukraine in 2008, ASTARTA increased area under sugar beet by 30% to 30,000 hectares. Such an expansion, as well as an increase in beet yields will provide the ASTARTA's sugar plants with around 1.4 million tons of sugar beet to secure enough row material for the efficient sugar production.

In line with the Group's strategy declared during the IPO in 2006 we've purchased sugar plant in Khmelnytska Oblast continuing geographical diversification and expansion to the Western Ukraine. Thus, the Group's businesses will fully benefit from the favorable climatic and environmental conditions in this region and we will be able to strengthen further our position in the B2B sector by meeting the needs of large industrial clients nationwide.

It is important to mention that by August 14, 2008, ASTARTA's agricultural companies harvested more than 250,000 tons of early grains or 25% more than the total Group's harvest in 2007. As the campaign continues with favorable weather conditions, this year we intend to double last years' total output of grains and oilseeds producing up to 400,000 tons".

Direct link to the quarterly report for the 2nd quarter of 2008:

http://www.astartakiev.com/?id=1057