Kernel net profit increased 3.3x in Q1 FY2019

In Q1 FY2019 (July 2018 – September 2018), the Kernel company increased its net profit 3.3x to USD 75.5 million.

The company's income improved 2.1x to USD 1.14 billion. The EBITDA of the group in Q1 FY2019 increased 2.2x y-o-y, to a record  USD 101 million.

"Infrastructure and Trading business doubled EBITDA y-o-y, as combination of solid grain export volumes from Ukraine and related profitability was further reinforced with strong Avere performance in Q1 FY2019," the report says.

The net margin surged 4.3% to 6.6%. Earnings per share grew 3.3x y-o-y to USD 0.92.

In FY 2018 (July 2017 – June 2018), Kernel reduced the net profit attributable to equity holders of the company by 71.4% to USD 52.1 million.