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BRIEF-Avangardco Investments Public Q4 Net Result Turns To Profit Of $13.1 MLN
March 29, 2018 / 6:11 AM / 25 days ago

BRIEF-Avangardco Investments Public Q4 Net Result Turns To Profit Of $13.1 MLN

March 29 (Reuters) - Avangardco Investments Public Ltd :

* Q4 NET PROFIT WAS US$13.1 MLN (Q4 2016: NET LOSS OF US$17.8 MLN)

* SAYS Q4 CONSOLIDATED REVENUE AMOUNTED TO US$43.7 MILLION, A DECREASE OF 45% YOY (Q4 2016: US$79.6 MILLION)

* Q4 EBITDA WAS UP BY 108% TO US$23.6 MILLION

* FY PRODUCTION OF SHELL EGGS TOTALLED 2,399 MILLION UNITS, A DECLINE OF 4% YOY

* FY SALES OF SHELL EGGS AMOUNTED TO 1,869 MILLION UNITS, UP BY 23% YOY

* FY EXPORT OF SHELL EGGS AMOUNTED TO 558 MILLION UNITS, UP BY 121% YOY

* ANTICIPATES THAT MARKET ENVIRONMENT WILL REMAIN CHALLENGING IN 2018

* AVIS POULTRY COMPLEX RECEIVED APPROVAL TO EXPORT CLASS (GRADE) A EGGS TO EU EFFECTIVE FROM FEBRUARY 28

* BELIEVES THAT DOMESTIC DEMAND CONTRACTION MAY HAVE PASSED ITS LOWEST POINT AND THERE WILL BE NO FURTHER SHARP PRICE FLUCTUATIONS

* EXPECTS A SLIGHT INCREASE IN SHELL EGG OUTPUT IN 2018 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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