Kernel records $116 mln profits in Q4 2015

Kernel Holding announced it achieved a net profit of $116.46 million in the fourth quarter of 2015. This is a significant rise compared to the $54.85 million it gained in the same time period in 2014. The company attributed the record performance to effective cost-cutting measures. In related news, the company also purchased a seed processing plant in Ukraine for $95.6 million. It will allow the firm to produce an additional 560,000 tonnes of sunflower seeds each year. Kernel Holding is a food producer operating in Ukraine. It has been noted on the Warsaw Stock Exchange since 2007.