KSG Agro net loss in Q1 2020 made USD 3 mln

KSG Agro posted a net loss of USD 3.02 mln in the first quarter of 2020, compared to a net profit of USD 3.46 mln in the corresponding period of 2019.

The company's revenue for the reporting period amounted to USD 3.24 mln, 5% less from Q1 2019 (USD 3.4 mln).

Gross profit increased significantly in Q1 2020 to USD 1.07 mln, compared to USD 128 mln gross loss in the comparative period of 2019. Operating profit totalled USD 748 mln (Q1 2019: USD 48 mln loss).

EBITDA increased by 3.3x to USD 1.17 mln, USD 900 thou. more than in the first quarter of 2019.

Pursuant to the company's report, KSG Agro manages a land bank of 21 thou. ha.

Previously the company reported its financial results for the year 2019.