“The main factors which negatively affected the company’s revenue from its core activity were the lack of contracts, higher raw material prices and the competition in the field,” the company said in its report.
Total revenue stood at RON5.69 million in January-June 2017, up 47.4% on the year, anf total expenses fell 48.4% to RON7.92 million.
At the end of the first half of 2017, the company posted loss of RON2.23 million, down 50% from the year-earlier period, according to company data.
Operating revenue stood at RON5.69 million, down 47.4% from the first half of 2016, with revenue from production sale (services provision, rents) accounting for the bulk, namely, RON3.43 million, or 60.41% of total revenue.
The average number of employees stood at 249 at the end of the first half of 2017, down 6.74% from the same period a year before.
Cerealcom Alexandria is 48.4% owned by Interagro group, built by Ioan Niculae, by Interaction with a 23.4% stake, Interagro SRL with 10%, and other shareholders hold 18.1%, according to stock exchange data.
The company has a market capitalization of RON23.3 million.