Friday, February 29, 2008

National Food Corporation raises net profit by 70% y/y in 2007.

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National Food Corporation raises net profit by 70% y/y in 2007. Kazakhstan’s National Food Corporation raised net profit by 70% y/y to KZT 433mn (USD 3.6mn), according to the company’s unconsolidated financial report provided to the regional stock exchange KASE. Revenues rose 4.5% y/y to KZT 23.4bn while cost of goods sold decreased 1.3% y/y to 18.92bn. Assets went up 27.9% through 2007 to KZT 74.297bn. Liabilities increased by 33.9% to KZT 48.11bn. National Food Corporation is a part of KazAgro. It operates 10 regional offices in Kazakhstan and has representatives in UK , Russia , China , Iran and Azerbaijan . The company is the operator of grain purchase and the government’s grain reserves.

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National Food Corporation raises net profit by 70% y/y in 2007.

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