Don Agro posts 66.5% increase in net profit to S$8.7 million for FY2020

Overall, the Group delivered a 66.5% yoy increase in net profit to S$8.7 million for FY2020. Overall, the Group delivered a 66.5% yoy increase in net profit toS$8.7 millionfor FY2020. Mr. Evgeny Tugolukov, Executive Chairman ofDon Agrosaid, " Due to changing consumer preferences favouring wheat-based products, we are optimistic thatDon Agrowill continue to be a beneficiary of higher export prices driven by robust global demand. At the same time, strong domestic demand and stable...

Singapore, 05/03/2021 (informazione.it - comunicati stampa - agricoltura)

Overall, the Group delivered a 66.5% yoy increase in net profit to S$8.7 million for FY2020.

Mr. Evgeny Tugolukov, Executive Chairman of Don Agro said, " "

In line with its IPO plans to expand its arable land bank, the Group recently acquired Volgo-Agro LLC ("Volgo-Agro"), an agricultural company based in the Volgograd region of Russia . Through the acquisition of Volgo-Agro, the Group's controlled land bank rose by 10,040 hectares or 18.9% to 63,240 hectares in total, allowing it to quickly raise production volume to capitalise on the burgeoning global demand for wheat and wheat-based products. Volgo-Agro's close proximity to important trading routes linked to the Middle East and Asia will offer attractive new opportunities to reach new markets and customers, so as to drive long-term sustainable growth for the Group.

For more information on Don Agro , please visit: http://donagroint.com/

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