Milkiland cut net loss 5.3 times
2 May 2018, 15:00
Milkiland's net loss for 2017 accounted for EUR 7.3 million vs negative result of EUR 38.9 million in 2016, Warsaw Stock Exchange (WSE) informs.
Last year, Milkiland penciled a minor decline on a top-line level of the business, when the Group’s revenue decreased by c. 4% to c. EUR 140 million in comparison with the year 2016.
As a result of decreasing top line and even bigger decrease in the costs of sales, Milkiland’s gross profit increased by 12% y-o-y to EUR 23.7 million implying the rise of gross profit margin also to 16.9% in 2016 compared to 14.4% in 2016.
The Group’s net loss significantly contracted from c. EUR 39 million in 2016 to c. EUR 6.9 million in 2017.