Czech Republic Agrofert 2011 revenue grows 24.5% to $9.4bn

25 January 2012 16:51  [Source: ICIS news]

LONDON (ICIS)--Agrochemical and foodstuffs group Agrofert has recorded unconsolidated revenues of koruna (Kc) 182.5bn ($9.4bn, €7.2bn) for 2011, a 24.5% improvement year on year, the Czech Republic-based producer said on Wednesday.

Agrofert, comprising 231 companies, largely located in the Czech Republic, Slovakia, and Germany, is yet to release a net profit figure for last year.

However, in early December last year, Agrofert CEO Andrej Babis said he expected the group’s 2011 net profit to hardly differ from the 2010 result – Kc5.97bn, which was up 60% on the 2009 result.

Babis added that Agrofert, Europe’s second-largest producer of nitrate fertilizers, was set to slow its rapid expansion in favour of consolidation rather than further takeovers during the economic downturn.

($1 = €0.77)
($1 = Kc19.44)
(€1 = Kc25.32)

For more on nitrates visit ICIS pricing fertilizers

By: Will Conroy
+44 20 8652 3214

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