Avangardco Investments Public Limited Reports Consolidated Earnings and Production Results for the Nine Months Ended September 30, 2016
Avangardco Investments Public Limited reported consolidated earnings and production results for the nine months ended September 30, 2016. For the period, the company reported revenue of $111,105,000 compared to $176,477,000 a year ago. Loss from operating activities was $22,587,000 compared to $102,069,000 a year ago. Loss before tax was $41,609,000 compared to $152,988,000 a year ago. Loss attributable to owners of the company was $38,581,000 or $6 per basic and diluted share compared to $146,125,000 or $23 per basic and diluted share a year ago. Net cash used in operating activities was $4,569,000 compared to net cash generated from operating activities of $6,813,000 a year ago. Payments for property, plant and equipment was $11,419,000 compared to $32,542,000 a year ago. Negative EBITDA was $10.0 million compared to $84.3 million a year ago.
For the nine months, the company reported production of shell eggs of 1,895 million units, a decline of 31%, compared to 2,735 million units a year ago. The production of dry egg products amounted to 8,612 tonnes, an increase of 31%, compared to 6,567 tonnes a year ago.