Milkiland reports EUR 2.5 net loss in 1H 2018

In H1 2018, the Milkiland company posted a net loss of c. EUR 2.5 million contrary to the net profit of c. EUR 1.6 million in the same period of the last year.

The revenue for the reporting period decreased from EUR 74.44 million to EUR 66.15 million, and EBITDA — from EUR 5.02 million to EUR 3.55 million.

The operating loss in 1H 2018 stood at EUR 1.74 million, whereas in 1H 2017 this indicator amounted to EUR 1.16 million. Loss per ordinary share made up 7.96 EUR cents against 4.71 EUR cents in H1 2017.

Earlier it was reported Milkiland-Ukraine with the support of Milkiland Intermarket, both the subsidiaries of Milkiland Group, had concluded the first contract and started supplies of butter produced by the Group’s Ukrainian facilities to China. The Group also continues the supplies of dry milk products to China in order to further develop the distribution network in this country.