September 18 (SeeNews) - Romanian agricultural company Holde Agri Invest [BSE:HAI], the parent company of Holde group, said on Monday that the group’s consolidated revenues increased by 45% on the year in the first six months of 2023, to 55.3 million lei ($11.8 million/11.1 million euro).
The group’s net loss narrowed by an annual 5% to 8.69 million lei during January-June, Holde Agri said in a financial report filed with the Bucharest Stock Exchange.
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Operating expenses grew by 34% year-on-year to 61.7 million lei during the six months through June, while the operating loss decreased by 20% to 6.3 million lei.
The group’s total assets amounted to 293 million lei at the end of June, up 20% against the end of 2022, while total liabilities jumped by 40% to 198.5 million lei over the same period.
Holde group's output totalled approximately 41,000 tonnes and included crops of wheat, rapeseed, and peas, which were harvested in June and in July, after the end of the reporting period of the first six months of the year. At end-June, the group operated some 13,200 hectares of farmland, of which 1,923 hectares were organically cultivated.
Holde Agri Invest was established in 2018 and operates 14 entities in the agricultural sector, of which 12 are crop farms in the counties of Teleorman, Dambovita and Calarasi.