Agroholding “Mriya” is planning to increase its land bank
2011-06-22 16:29:06
The 16.7-20.8% increase is planned to be complete by 2012 and the company will reach 280-290 thousand hectares. According to the information provided by “Mriya” it currently owns approximately 240 thousand hectares of agricultural land. The land purchase will most likely occur in the Western part of Ukraine, where the main assets of the company are located. The land will be cultivated either during the fall of the current year or spring of the next one.
“Mriya” was founded in 1992 by Ivan and Kavdiya Guti and currently it cultivates land in 4 regions in the West of Ukraine. Agroholding specializes in growing wheat, barley, rapeseed, suger beet, buckwheat, potatoes, etc. In June 2008 Company has finished placement of 20% shares with the net worth of $90.1 M USD and in March 2011it has placed Eurobonds 250M USD worth.
During the period January-March 2011 the company has received net profit of 1.62M USD compared to (6.96M) USD net loss during the same period in 2010. Company’s revenues have grown by 2.5 times to the level of 3.98M USD.