Milkiland cut net loss 5.3 times
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.