Ukraine's Ovostar delays annual report by a month

MOSCOW. April 23 (Interfax) - Agribusiness group Ovostar Union, one of the leading producers of eggs and egg products in Ukraine, has postponed the publication of its annual report until May 23, 2024, Ukrainian media reported, citing a company filing with the Warsaw Stock Exchange.

The company plans to publish its report for the first quarter of 2024 on May 27.

The reasons for the delays were not specified.

Ovostar boosted net profit 12.2-fold year-on-year in January-September 2023 to $29.08 million. Revenue grew 36.3% to $123.06 million thanks largely to higher prices for the company's products.

Ovostar Union majority shareholders CEO Boris Belikov and member of the board of directors Vitaly Veresenko, together with the Canadian financial company Fairfax Financial Holdings, have accumulated 95.45% of the agricultural holding's shares and decided to buy the remaining 4.55% at PLN 70 or $17.29 per share at the current rate.