Ukrainian Stocks Slide as MHP Drops Despite Profit Jump
Shares of Ukrainian companies declined last week, with Astarta (AST) among the worst performers, dropping 7% to PLN 45.55. Kernel (KER) slid 4%, while IMC lost 2.2%.
MHP’s (MHPC) market value fell 5.4% to USD 597mn despite the company reporting solid first-half results. Revenue rose 10% and net income jumped 67%, though EBITDA unexpectedly slipped 11% to USD 236mn. The company continues to expand operations, and we see 34% upside in the stock over the next 12 months, to USD 7.50 a share.
Iron ore miner Ferrexpo (FXPO) dropped by 4.9% to GBp 50.7 (MCap of USD 412mn) and Enwell Energy (ENW) slipped by 11% to GBp 20.0 (MCap of USD 87mn).
In the war news, Romania says a Russian drone has breached its airspace - the second Nato country to report such an incursion. Earlier, Poland said it had shot down at least three Russian drones which had entered its airspace.
Meanwhile, Ukrainian drones have struck one of Russia’s largest oil refineries. The strike on the Kirishi refinery, in Russia’s northwestern Leningrad region, follows weeks of Ukrainian attacks on Russian oil infrastructure that Kyiv says fuels Moscow’s war effort. The facility, operated by Russian company Surgutneftegas, produces close to 17.7 million tonnes per year (355,000 barrels per day) of crude, and is one of Russia’s top three by output. Russia remains the world’s second-largest oil exporter, but a seasonal rise in demand and sustained Ukrainian drone strikes have caused gasoline shortages in recent weeks. Gas stations have run dry in some regions of the country, with motorists waiting in long lines and officials resorting to rationing or cutting off sales altogether. To try to ease the shortage, Russia has paused gasoline exports, with officials on Wednesday declaring a full ban until Sept. 30 and a partial ban affecting traders and intermediaries until Oct. 31.
STOCKS IN THE NEWS
- MHP Increases Net Profit by 67% YoY to USD 75mn in 1H2025
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