Agria Group Holding books non-consolidated net profit of BGN 9.9m (NEUTRAL)

Integrated agricultural holding Agria Group Holding reported non-consolidated 2014 net profit of BGN 9.9m. The high profit is attributable to dividend income of BGN 10m for the quarter and a twofold increase of interest revenue to BGN 1.1m. The balance sheet reflected the group’s heavy investment program with investments in subsidiaries booking a 39% YoY increase to BGN 46m and the related party receivables increasing 172% YoY to BGN 28m. The company's total assets stood at BGN 83m at the end of 2014, up from BGN 51m a year earlier. The increase was partially financed with debt, which increased 88% YoY to BGN 33m.