- MHP gained USD 230 mn of net profit for twelve months of 2017
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MHP gained USD 230 mn of net profit for twelve months of 2017
As was reported in the MHP’s unaudited report for the twelve months of 2017, the Company’s total revenue increased by 13.5% y/y, while its net profit grew by 3.3 times y/y. In the Q4 2017, MHP increased its revenue by USD 5 mn (+1.6% y/y compared to the results for Q4 2016) to USD 318 mn. Company’s adj. EBITDA was up by USD 16 mn (+22.2% y/y) to USD 88 mn, while net loss decreased by USD 1 mn (-3.6% y/y). For the twelve months of 2017, Company’s revenue grew up by USD 153 mn (+13.5% y/y) to USD 1,288 mn. Adj. EBITDA during the period increased by USD 44 mn (+10.6% y/y) to USD 459 mn and net profit – by USD 161 mn (x3.3 times y/y) to USD 230 mn.
Despite the decrease of the poultry’s sales volume, growth of the export sales’ share, as well as the significant 24.0% growth of the poultry prices for the twelve months of 2017, resulted in the Company’s revenue increase for the period. Such substantial net profit growth in 2017, compared to the results for 2016, is mostly influenced by a USD 109 mn (-24.85 y/y) reduction of foreign exchange loss. MHP’s positive financial results dynamics during 2017 allowed the Company to approve USD 80 mn payment of dividends to shareholders, which will be made by the end of April 2018.