MHP net profit increased 3.3 times

Net profit of Myronivsky Hliboproduct (MHP) for 12M 2017 increased USD 230 million, compared to profit of USD 69 million for 12M 2016, including USD 36 million (12M 2016: USD 145 million) of non-cash foreign exchange translation loss, London Stock Exchange informs.

Net loss for Q4 2017 amounted to USD 27 million, compared to loss of USD 28 million for Q4 2016, including USD 62 million (Q4 2016: USD 55 million) of non-cash foreign exchange translation loss.

Revenue of the company for 12M 2017 totaled USD 1,288 million, increased by 13% year-on-year (12M 2016: USD 1,135 million).

Adjusted EBITDA for 12M 2017 increased to USD 459 million from USD 415 million, and adjusted EBITDA for Q4 2017 increased to USD 88 million from USD 72 million.

"In 2018, I expect MHP to continue to strengthen its position as a leading international agro-industrial group with good growth visibility in both domestic and international markets. I am confident that our strategy will continue to generate sustainable growth, enabling us to deliver strong operational and financial performance in 2018 and beyond," commented Chief Executive Officer Yuriy Kosyuk.