Agrofert Group posts record revenues

Unconsolidated revenues of Agrofert Group, a Czech food, agriculture, chemistry and media conglomerate, rose last year by 15 percent to a record 226 billion crowns, or around 11.2 billion US dollars, a spokesman for the group told the Czech News Agency on Friday. The company’s gross profit minus dividend yields decreased by 26 percent to 5.7 billion crowns. The increase in revenues was mainly generated by newly acquired companies including the German baking firm Lieken, the Mafra media group, and others, according to the spokesman.

Agrofert Group is solely owned by ANO party leader and incoming finance minister Andrej Babiš who only recently quit as the corporation’s CEO.

Author: Jan Richter