Ukrproduct Group to generate UAH 16.2 million of operating profit

Ukrproduct Group Ltd expects to generate an operating profit of approximately UAH 16.2 million (approximately GBP 0.5 million) in 2017 compared with an operating loss of approximately UAH 7.4 million (approximately GBP 0.2 million) in 2016, LSE informs.

As at 31 December 2017, the Group expects to report net liabilities of UAH 429.0 million (approximately GBP 11.4 million), with cash balances of UAH 18.7 million (approximately GBP 0,5 million). However, post year end, the Group's financial position was improved following the UAH 65.0 million (approximately GBP 1.755 million) new loan agreement with PJSC Creditwest  Bank ("Creditwest") and the subsequent repayment, in full, of the OTP Bank Loan.

In March 2018, Ukrproduct made a scheduled repayment of approximately EUR 177,175 to EBRD.