Astarta’s revenues rise 13% y-o-y in 1Q11

Astarta (WSE: AST PW), a large Ukraine-based scale agro producer and sugar processor, reported its 1Q11 results on Friday: revenues increased by 13% y-o-y to EUR 50.8 mln, EBITDA improved by 10% y-o-y to EUR 25.4 mln (margin of 50% vs. 51% in 1Q10). Net income for the period was EUR 20.2 mln vs. EUR 19.9 mln in 1Q10. In the reporting period, Astarta took control over two sugar plants in Kharkiv region. Alongside expansion of processing capacities, the group increased its land bank to 225 thousand ha and boosted its fleet of agricultural and transportation machinery by 200 units.