Astarta Posts 42% Growth In Net Revenue, Net Income Triples

Astarta (AST PW: N/R) posted 2Q07 net income of USD 6.7 mln (up 3.5 times yoy), and sales of USD 20.7 mln (+41.8% yoy). The strong quarter helped Astarta increase its 1H07 net income 83.3% yoy to USD 8.6 mln and sales by 47% yoy to USD 39.6 mln. Olha Pankiv: Astarta’s rise in net income is mainly attributable to a revaluation of crops at its fields, which brought an additional USD 11.2 mln to its EBIT line. Without the revaluation, the company’s net income would turn to negative mainly due to a 40% yoy decline in sugar prices in 2Q07.