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Profit losses for beef project

27 Aug 2018

• 27 Aug 11:11

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Miratorg’s beef facility, located in the European region of Russia, has suffered a huge net loss in 2017, despite significant growth in production and revenue. Analysis company Spark has reported that Bryansk Meat Company – the Miratorg subsidiary that manages its beef clusters – saw a net loss of $40 mill. last year, compared with an $160 mill. net profit in 2016. Revenue for the company reached $248 mill. in 2017, compared to $211 mill. the previous year, primarily due to an increase in production volumes to 82,000 t from 51,600 t in 2016. The Russian analysts have ascribed the company's profit loss to a number of factors, including shrinking. Read more...