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Article: Black Earth Farming posts loss of $12.7 mln in H1.(Financial report)
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- August 24, 2009
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Black Earth Farming posts loss of $12.7 mln in H1
MOSCOW. Aug 24 (Interfax) - Sweden's Black Earth Farming, which invests in agricultural production in Russia, posted net losses of $12.65 million in the first half of 2009 compared to net profit of $4.4 million in the same period of 2008, the company said in a statement.
Sales revenue grew to $37.92 million in the half from $9.5 million in January-June 2008.
EBITDA (earnings before interest, taxes, depreciation and amortization) was a negative $2.5 million in the period versus $14.6 million a year earlier.
"We are disappointed with the financial results of the second ...