KSG Agro releases its 2013 annual and Q1 2014 financial reports – company’s shares are once again traded on Warsaw Stock Exchange
2014-08-27 14:57:05
KSG Agro released audited financial reports on its website, both for the 2013 and the firs quarter of 2014. Company reported a 45.1% decline in sales revenue in the first quarter of 2014 to USD 4.49 million compared to USD 8.18 million over the same period of 2013. Company’s costs of sales have dropped respectively by 34.5% to USD -4.85 million compared to USD -7.4 million in 2014. Company ended the quarter with reported USD -7.72 million loss, which included USD -5.86 million loss on currency devaluation. Company’s loans payable, both: short and long term, as well as interest combined with lower capacity to attract investment funds in 2014 due to both: internal and external issues pose additional burden on company’s activities. Company’s share price fell 34% to PLN 3.00 per share on August 26, 2014 compared to the its last price of PLN 4.53 on May 2, 2014, when it was traded prior to exclusion.
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