OREANDA-NEWS. May 15, 2012. Agroton’s Audit Committee is pleased to announce the selection of KPMG as the Group’s new external auditor. The final selection was made following a tender among the following invited firms: KPMG, Deloitte, PWC, E&Y, BDO, Grant Thornton.
 
Yuriy Zhuravlev, CEO of Agroton commented:

‘On behalf of Agroton Public Limited I would like to address recent events surrounding our company.  Firstly, Agroton has changed its financial auditor from Baker Tilly to KPMG.  We believe that switching to a Big Four accounting firm will improve our future reporting transparency and this will greatly benefit our company in the near and long terms, starting with our forthcoming 2012 semi-annual report.

Secondly, I would like to comment on Agroton’s recently published 2011 year end financials and qualification.  I can emphatically state at this moment that our 2012 semi-annual financials are far more robust, and clearly will show that our company is financially strong and we intend to remove the qualification issued by Baker Tilly as a matter of company priority. We strongly believe that qualified trade receivables will be settled by the end of June and we plan to issue an update in this respect.  We have changed our auditor and we believe that this important change, in combination with Agroton’s financial performance in the first half of this year, soon shall reinforce our value proposition as a publicly listed company.

I highlight the fact that Agroton has repaid all of our loan facilities apart from the Eurobond notes, and we do not plan to attract any new debt in the near-term.  Based on Agroton’s 2012 performance and financial numbers to date, we do anticipate strong 2012 financial performance and we are continuously implement our growth strategy in line with company objectives.’