Agricover’s agribusiness division, operating on the segment of agricultural raw material distribution, grain trade, pork slaughter and processing, ended 2016 with a turnover of RON1.14 billion (EUR253.4 million), down 4% on the year, and a gross profit of RON12.2 million (EUR2.7 million), according to company representatives.
Agricover saw an 8% increase on the segment of inputs distribution, while the volume of grains and oil plans traded fell 27%, company representatives also said.
Agricover Holding, a group controled by Iranian-born businessman Jabbar Kanani, has more than 850 employees and serves over 4,500 farm clients countrywide. The holding brings together the divisions Agri-Business and Agri-Finance which provides farm loans.
Agricover Credit IFN, the lending division of Agricover group, said it granted loans worth RON988 million (EUR220 million) in 2016, up 4% on the year. The number of clients taking out loans in 2016 reached 1,900 farmers, 12% more than in the previous year. Of the total clients, 215 were small clients (below 100 hectares). In 2016, Agricover Credit IFN reported a net profit of over RON22 million, up 28% compared with 2015.