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DIVERSIFIED agro-industrial group Ariston Holdings Limited says it will remain in business after securing an additional US$3 million in loans.
The group reported a half-year loss of US$1,43 million for the period ending March 31, 2025 — a 32% improvement compared to the previous year.
However, its financial position remains precarious, with only US$0,90 available for every dollar of short-term debt, leaving minimal working capital for future operations.
This follows a challenging financial year ending September 30, 2024, when Ariston posted a US$4,28 million loss.
The loss was attributed to persistent operational difficulties, including a negative working capital position and an asset base dominated by illiquid, specialised agricultural holdings.
In the latest half-year period, rising production costs further strained the company’s financial performance, compounding existing liquidity pressures.
“The directors have undertaken a detailed review of the going concern status of the group and are satisfied that the group has adequate resources to continue operating for the foreseeable future,” Ariston said in its half-year report.
“In forming this view, they considered the diminishing impact of the Covid-19 pandemic and the ongoing implications of the Russia–Ukraine conflict. These global developments have contributed to increased production costs and continued pressure on commodity pricing.”
Source: Theindependent
