Agricover Agri-Business posts 12.2 million RON gross profit last year

Agri-Business division of Agricover Holding reached a gross profit of 12.2 million RON (2.7 million Euro) in 2016 on 1.14 billion RON (253.3 million Euro) turnover, a four per cent decrease compared to 2015, a press release shows.

2017-06-20 15:26:14 - From the Print Edition

The company′s last year gross profit comes after a 12 million RON (2.6 million Euro) loss registered in 2015. "2016 was a new step for us to streamline the operations of Agri-Business, which led to an increase in profitability," said Daniel Florescu, general manager of Agricover Agri-Business.

"We are committed to support the development of our farmer partners and for that we continue to focus on finding new solutions to reduce production costs." For this year, the company wants to develop the inputs distribution operations. Furthermore, 19 million RON (4.2 million Euro) are to be invested in the construction of a new pork products processing section, as well as supplementing refrigeration systems and expanding livestock paddocks.

Agricover Holding is one of the most important players in Romanian agribusiness, with over 16 years in this field. The company includes Agri-Business and Agri-Finance divisions, with over 850 employees and serving 4,500 farmers nationwide.