Agricultural holding A.G.R. Group received the positive auditors’ report from KPMG
KPMG, one of the Big Four audit and consulting companies, prepared the positive report on the audit of financial statements of A.G.R. Group for the years 2016 and 2017. KPMG Independent Auditors’ Report dated 26 September 2019 contains the relevant information.
Igor Shestopalov, Chief Executive Officer of A.G.R. Group, said, “It is the first audit of financial statements of A.G.R. Group. And, we are pleased that the auditors have fully confirmed all materials provided by us”. He also added that A.G.R. Group would further engage KPMG to conduct the audit of financial statements of the agriholding: “We intend to demonstrate our commitment to the principles of transparency and cooperation with investors through engagement of the leading international company for the audit of A.G.R. Group”.
According to the audit, total assets of A.G.R. Group at the end of 2017 amounts to 45,3 million US Dollars which is 4,2 times more than the amount of total assets at the beginning of 2016 (10,8 million US Dollars).
Total revenue of A.G.R. Group for the year of 2017 amounts to 17,4 million US Dollars which is 23% more than the amount for the year of 2016 (14,1 million US Dollars).
A.G.R. Group is a private agricultural holding bringing together 19 Ukrainian farming companies as of October 2019. The main lines of business of the agriholding are grain growing, mainly, corn and soybean. Besides, the agriholding specializes in livestock production and grain storage.
The fertile and crop-friendly Poltava, Kyiv, Chernihiv and Sumy regions of Ukraine host our production lands, totaling about 28 800 hectares. A.G.R. Group production units are 95% equipped with hi-end agricultural machinery.
Based on the results of 2018 the total yield of grain, beans and industrial crops of A.G.R. Group amounts to about 180 thousand tons. The agricultural products are exported in the international market.