{"id":451575,"date":"2021-03-05T03:03:23","date_gmt":"2021-03-05T08:03:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451575"},"modified":"2021-03-05T03:03:23","modified_gmt":"2021-03-05T08:03:23","slug":"don-agro-posts-66-5-increase-in-net-profit-to-s8-7-million-for-fy2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/don-agro-posts-66-5-increase-in-net-profit-to-s8-7-million-for-fy2020\/","title":{"rendered":"Don Agro posts 66.5% increase in net profit to S$8.7 million for FY2020"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<ul type=\"disc\">\n<li>Driven by an increase in gain from change in fair value of biological assets and agricultural products, mainly due to rising global prices of agricultural produce, gross profit rose 70.3% yoy to <span class=\"xn-money\">S$14.6 million<\/span><\/li>\n<li>Declares a final dividend of 1.157 <span class=\"xn-location\">Singapore<\/span> cents per share (FY2019: 0.7 <span class=\"xn-location\">Singapore<\/span> cents per share) to reward shareholders, representing a dividend payout ratio of 20%<\/li>\n<\/ul>\n<p>\n        <span class=\"xn-location\">SINGAPORE<\/span>, <span class=\"xn-chron\">March 5, 2021<\/span> \/PRNewswire\/ &#8212; SGX-Listed Don Agro International Limited (&#8220;<span class=\"xn-person\">Don Agro<\/span>&#8220;) (SGX Ticker: GRQ) and its subsidiaries (collectively the &#8220;Group&#8221;), one of the largest agricultural companies based in the Rostov region of <span class=\"xn-location\">Russia<\/span>, has announced its financial results for the full year ended <span class=\"xn-chron\">31 December 2020<\/span> (&#8220;FY2020&#8221;). Read the full press release <a target=\"_blank\" href=\"http:\/\/investor.donagroint.com\/newsroom\/20210301_180113_GRQ_3LKUVH2EWP9USNHA.1.pdf\" rel=\"nofollow noopener noreferrer\">here<\/a>.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Financial Highlights (S$&#8217;000)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>FY2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>FY2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Change (%)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenue <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30,996<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,431<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12.5)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cost of Sales <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(25,587)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(33,354)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(23.3)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Gain from change in fair value of biological assets <br \/>and agricultural produce<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,217<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,512<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41.5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Gross Profit <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,626<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,589<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">70.3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Gross Profit Margin (%) <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23.0 pts<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net Profit<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,696<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,223<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">66.5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>The Group recognised a 41.5% yoy increase in gain from change in fair value of biological assets and agricultural produce to <span class=\"xn-money\">S$9.2 million<\/span> for FY2020. The gain was mainly attributable to the trend of rising agricultural produce prices globally, especially for sunflower and wheat which the Group produces. As a result, gross profit grew 70.3% yoy to <span class=\"xn-money\">S$14.6 million<\/span> for FY2020, while gross profit margin expanded 23.0 percentage points to 47.2% for the same period.<\/p>\n<p>Overall, the Group delivered a 66.5% yoy increase in net profit to <span class=\"xn-money\">S$8.7 million<\/span> for FY2020.<\/p>\n<p>Mr. Evgeny Tugolukov, Executive Chairman of <span class=\"xn-person\">Don Agro<\/span> said, &#8220;<i>Due to changing consumer preferences favouring wheat-based products, we are optimistic that <span class=\"xn-person\">Don Agro<\/span> will continue to be a beneficiary of higher export prices driven by robust global demand. At the same time, strong domestic demand and stable consumption of local agricultural produce will ensure that local prices remain well-supported. For our livestock business, we do not expect significant fluctuations for this segment and it continues to chart steady growth. Looking ahead, we will continue to execute our near-time initiatives including, among others, expanding our arable land bank and accelerating growth into new markets so as to drive earnings resiliency and maximise value for our shareholders.<\/i>&#8220;<\/p>\n<p>In line with its IPO plans to expand its arable land bank, the Group recently acquired Volgo-Agro LLC (&#8220;Volgo-Agro&#8221;), an agricultural company based in the Volgograd region of <span class=\"xn-location\">Russia<\/span>. Through the acquisition of Volgo-Agro, the Group&#8217;s controlled land bank rose by 10,040 hectares or 18.9% to 63,240 hectares in total, allowing it to quickly raise production volume to capitalise on the burgeoning global demand for wheat and wheat-based products. Volgo-Agro&#8217;s close proximity to important trading routes linked to the <span class=\"xn-location\">Middle East<\/span> and <span class=\"xn-location\">Asia<\/span> will offer attractive new opportunities to reach new markets and customers, so as to drive long-term sustainable growth for the Group.<\/p>\n<p>For more information on <span class=\"xn-person\">Don Agro<\/span>, please visit: <a target=\"_blank\" href=\"http:\/\/donagroint.com\/\" rel=\"nofollow noopener noreferrer\">http:\/\/donagroint.com\/<\/a><\/p>\n<p>\n        <b>Contact for Media &amp; Enquiries:<br \/><\/b><br \/>\n        <a target=\"_blank\" href=\"mailto:tech@financialpr.com.sg\" rel=\"nofollow noopener noreferrer\">tech@financialpr.com.sg<\/a><br \/>\n        <br \/>Tel: (65) 6438 2990<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=HK00151&amp;sd=2021-03-05\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/don-agro-posts-66-5-increase-in-net-profit-to-s8-7-million-for-fy2020--301241213.html\">http:\/\/www.prnewswire.com\/news-releases\/don-agro-posts-66-5-increase-in-net-profit-to-s8-7-million-for-fy2020&#8211;301241213.html<\/a><\/p>\n<p>SOURCE  Don Agro International Limited<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=HK00151&amp;Transmission_Id=202103050300PR_NEWS_USPR_____HK00151&amp;DateId=20210305\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Driven by an increase in gain from change in fair value of biological assets and agricultural products, mainly due to rising global prices of agricultural produce, gross profit rose 70.3% yoy to S$14.6 million Declares a final dividend of 1.157 Singapore cents per share (FY2019: 0.7 Singapore cents per share) to reward shareholders, representing a dividend payout ratio of 20% SINGAPORE, March 5, 2021 \/PRNewswire\/ &#8212; SGX-Listed Don Agro International Limited (&#8220;Don Agro&#8220;) (SGX Ticker: GRQ) and its subsidiaries (collectively the &#8220;Group&#8221;), one of the largest agricultural companies based in the Rostov region of Russia, has announced its financial results for the full year ended 31 December 2020 (&#8220;FY2020&#8221;). Read the full press release here. Financial Highlights (S$&#8217;000) &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/don-agro-posts-66-5-increase-in-net-profit-to-s8-7-million-for-fy2020\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Don Agro posts 66.5% increase in net profit to S$8.7 million for FY2020&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-451575","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Don Agro posts 66.5% increase in net profit to S$8.7 million for FY2020 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/don-agro-posts-66-5-increase-in-net-profit-to-s8-7-million-for-fy2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don Agro posts 66.5% increase in net profit to S$8.7 million for FY2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Driven by an increase in gain from change in fair value of biological assets and agricultural products, mainly due to rising global prices of agricultural produce, gross profit rose 70.3% yoy to S$14.6 million Declares a final dividend of 1.157 Singapore cents per share (FY2019: 0.7 Singapore cents per share) to reward shareholders, representing a dividend payout ratio of 20% SINGAPORE, March 5, 2021 \/PRNewswire\/ &#8212; SGX-Listed Don Agro International Limited (&#8220;Don Agro&#8220;) (SGX Ticker: GRQ) and its subsidiaries (collectively the &#8220;Group&#8221;), one of the largest agricultural companies based in the Rostov region of Russia, has announced its financial results for the full year ended 31 December 2020 (&#8220;FY2020&#8221;). Read the full press release here. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/don-agro-posts-66-5-increase-in-net-profit-to-s8-7-million-for-fy2020\/","og_locale":"en_US","og_type":"article","og_title":"Don Agro posts 66.5% increase in net profit to S$8.7 million for FY2020 - Market Newsdesk","og_description":"PR Newswire Driven by an increase in gain from change in fair value of biological assets and agricultural products, mainly due to rising global prices of agricultural produce, gross profit rose 70.3% yoy to S$14.6 million Declares a final dividend of 1.157 Singapore cents per share (FY2019: 0.7 Singapore cents per share) to reward shareholders, representing a dividend payout ratio of 20% SINGAPORE, March 5, 2021 \/PRNewswire\/ &#8212; SGX-Listed Don Agro International Limited (&#8220;Don Agro&#8220;) (SGX Ticker: GRQ) and its subsidiaries (collectively the &#8220;Group&#8221;), one of the largest agricultural companies based in the Rostov region of Russia, has announced its financial results for the full year ended 31 December 2020 (&#8220;FY2020&#8221;). Read the full press release here. 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