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Steppe Agroholding posts 40% rise in 1H 2023 revenue

According to the report, the results were achieved due to an increase in the volume of trading exports, as well as remnants of last year's harvest efficiently sold

MOSCOW, July 26. /TASS/. Revenue of Steppe Agroholding (part of Sistema) increased by 40.5% in January-June year-on-year to 41.3 bln rubles ($458 mln), the company reported on Wednesday.

"In the first half of the year revenue of Steppe Agroholding rose by 40.5% year-on-year to 41.3 bln rubles (revenue amounted to 29.4 bln rubles in the first half of 2022)," the report said.

Record results were achieved due to an increase in the volume of trading exports, as well as remnants of last year’s harvest efficiently sold, the company explained.

Steppe Agroholding is one of the largest agricultural companies in the south of Russia, which operates in crop farming, dairy farming and vegetable growing. Its agricultural assets are located in the Krasnodar Region, Stavropol Region, and Rostov Region.

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