Agrofert sees sales and profits fall

The consolidated net profit of agro-chemical company Agrofert fell last year by 9.6 percent to 7.79 billion crowns. Turnover of the company, indirectly owned by former minister of finance and ongoing ANO leader Andrej Babiš, fell by 6.4 percent to just over 155 billion crowns. Agrofert’s spokesman said the fall was mainly caused by the fall in commodity prices and in particular by the poorer performance of the chemicals and fertilizer divisions. Agrofert is held in trust for majority owner Andrej Babiš.

Author: Chris Johnstone