Agropol Group increases profit, output; lower feed production in 2008

Agropol Group, from Czech Republic, which includes a poultry processing division, increased its profit to 441.47 million koruny (CZK) in 2008, while poultry output was up, but feed production was down compared to the previous year.

Agrofert owner Andrej Babis said the Czech agricultural and food holding, Agropol Group, a unit of Agrofert Holding, raised consolidated profit to CZK441.47 million last year from CZK405.8 million in 2007.

Reports show that the company's total consolidated turnover last year increased from CZK14.09 billion to CZK15.42 billion.

In contrast, production of feeds decreased to 566,376 tonnes in 2008 from 629,329 tonnes the previous year.

Agrofert Holding made a pre-tax profit of CZK6.153 billion on consolidated sales of CZK101.365 billion last year. The volume of sales grew by 21.6 per cent as compared to CZK17.98 billion in 2007.

Agropol is a group of 37 companies, of which 30 are active within the consolidated unit. These comprise trading companies, poultry companies, farms and also the so-called agri-centres, that is former companies securing agricultural supplies, including warehouse capacities.

US$1 = CZK18.2 (June 11)