HomeBusiness DigestAriston posts US$5 mln full year loss

Ariston posts US$5 mln full year loss


AGRO-industrial concern Ariston has reported a US$5 million loss for the full year to September 30 from a profit of US$615 000 after revenues declined following the discontinuation of its trading division.

At US$11,7, revenues were down 6% as discontinued operations incurred a loss of US$3,4 million. The group’s trading unit, Favco, wound up its operations last June.

The company is bullish that demand in macadamia and tea whose volumes recorded growth during the year under review could grow revenue in the coming year.

The group’s poultry division recorded lower sales compared to the same period last, reflecting weakening aggregate demand in the economy.-Staff Writer

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