OREANDA-NEWS. KSG Agro published its results for the first nine months of 2013. The Group’s revenues doubled to USD 37.086 million compared to USD 18.576 million after Q3 2012. The Group’s operating profit increased 16% to USD 16.598 million from USD 14.342 million in the same period of 2012. The Group’s net profit increased 13% to USD 11.785 million. The company’s total assets went up 35% to USD 275.613 million.

During the first 9 months of 2013, revenues from the sale of seeds increased 19-fold to USD 14.029 million. This was due to a significant enlargement of the area sown with, and the yield of, rapeseed. Revenues from the sale of wheat increased 69% to USD 7.552 million, primarily due to an increase in yields and the resulting improvement in the sales volume from 18,533 tons to 47,833 tons of grains, an increase of 158%.

KSG Agro continues to reconstruct and modernize of its hog production complex. In October, the first piglets were born from sows purchased from a Danish breeding company.

Furthermore, thanks to the execution of a pilot irrigation project (covering 400 hectares of sown fields in the Dnipropetrovsk region and 1100 hectares in the Crimea) a high yield of corn was achieved. A further increase in the areas covered by the irrigation system will enable the company to significantly improve its yield per hectare and reduce its dependence on weather conditions.

During the first 9 months of 2013, the Group’s companies entered into a number of agreements under which they seized control of approx. 6 thousand hectares of land, thereby continuing the implementation of the Group’s development strategy.