Ukrros says its crop yield is exceeding its plans

Ukrros (UROS: BUY) announced yesterday that its harvested area reached 10,600 ha as of July 30, 44% of the company’s planted area. Ukrros said that it completed gathering peas and winter barley. According to the company, its average crop yield is significantly ahead of what it planned: winter barley yield is 4.5 mt/ha (vs. 3.5 mt ha as planned), and winter wheat yield is 5.4 mt/ha (vs. 4.3 mt/ha). The company stressed that flooding in Western Ukraine has not affected its harvest. Olha Pankiv: Favorable weather conditions this spring/summer resulted in Ukrros’ yields being 20% (wheat) and 50% (barley) higher than we expected. We confirm our BUY recommendation on the stock.