Net loss of MHP for Q3 2018 stands at USD 48 million

In Q3 2018, the agro-industrial holding Myronivsky Hliboproduct (MHP) received net loss of USD 48 million, compared to net profit of USD 41 million for Q3 2017.

The company reported the net profit of USD 142 million, down 44% compared to USD 251 million for 9M 2017.

"Net profit decreased mainly due to the reduction in government grants income (USD 41 million) and one-off transaction costs (USD 33 million) related to new Eurobond issued in April 2018, as well as the non-cash foreign exchange translation loss," the report says.

MHP revenue for 9M 2018 improved by 17% to USD 1.14 billion (9M 2017: USD 970 million).