Grain and sugar producer Razgulai Group returned to profit last year after prices advanced, the company said Monday.
Net income was 87 million rubles ($3.1 million), compared with a loss of 1.59 billion rubles a year earlier. Profit totaled 143 million rubles when accounting for non-controlling interests.
Razgulai's sales fell 18 percent to 23.8 billion rubles, while the margin on earnings before interest, tax, depreciation and amortization expanded to 18 percent from 10 percent, the company said in the statement. Debt was 24.9 billion rubles at year-end, down from 25.7 billion rubles a year earlier.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
