IMC net profit increased 16% in 9M 2018
According to the results of 9 months of 2018, the IMC agricultural company increased its net profit by 16% to USD 32.1 million compared to the same period in 2017.
It is noted that among the factors that contributed to the growth of profit in the reporting period are significant growth of crop yields (sunflower, soybean, corn), +20-30% compared to 2017, rise in prices for agricultural crops by 5-10% and implementation of the IMC strategy on reduction of the company's debt and financial costs accordingly.
EBITDA grew by 18% to USD 50.6 million compared to the prior-year period.
As of 30 September 2018, the IMC's total debt amounted to USD 63.1 million (USD 70.7 million as of 30 September 2017).
Earlier it was reported that a legal entity controlled by Aleksandr Petrov, Chairman of the Board of IMC, had increased its shareholding in the company to 71.75%.