Avangardco Investments Public Limited reported consolidated earnings and operating results for the first quarter ended March 31, 2017. For the quarter, the company reported revenue of $34,004,000 against $39,839,000 a year ago. Loss from operating activities was $3,704,000 against profit of $5,302,000 a year ago. Loss before tax was $5,305,000 against $3,905,000 a year ago. Loss was $5,342,000 against $3,974,000 a year ago. Loss attributable to owners of the company was $4,903,000 or $1 per basic and diluted share against $4,020,000 or $1 per basic and diluted share a year ago. Net cash generated from operating activities was $3,032,000 against $1,988,000 a year ago. EBITDA was $100,000 against $9,566,000 a year ago. Net debt decreased to $330.1 million as at March 31, 2017.

For the quarter, the company's production of shell eggs totaled 462 million units compared with 627 million units for the first quarter of 2016. The production of dry egg products amounted to 1,095 tonnes compared with 1,575 tonnes for the first quarter of 2016.