Romania's DN Agrar Group 9-mo net profit doubles

The company's turnover climbed 12.4% on the year to 115.9 million lei during January-September, DN Agrar said in a press release.

The improved results were supported by the increase in livestock and milk production, improved performance resulting from production cost optimisation, and new investments in automation, DN Agrar said.

"We are preparing projects for 2024, including continuing the installation of robots on farms, installing photovoltaic panels, and developing the compost factory, according to the investment plan," said Jan Gijsbertus de Boer, Chairman of the Board and CEO of DN Agrar Group.

The group employed 273 people at end-September.

DN Agrar, established in 2008, comprises 15 companies. The group's portfolio includes four cattle farms and over 7,000 hectares of cultivated land in the counties of Alba, Sibiu and Hunedoara. The group's goal is to reach 10,000 hectares through the acquisition of other farms.

DN Agrar Group's shares traded 0.38% lower at 1.315 lei as of 1251 CET on Tuesday on the Bucharest bourse.

(1 euro=4.97255 lei)