Ovostar Union NV announced financial results for the six months ended 30 June 2016. For the period, the company’s revenue in USD terms increased by 3% year on year to USD 34.4 million against USD 33.5 million a year ago. operating profit decreased by 37% to USD 9.4 million due to increase in selling expenses resulted from export sales growth together with significant decrease in income from special VAT treatment resulted from the amendments to the tax code. EBITDA decreased by 34% to USD 10.6 million against USD 15.9 million a year ago. Cash flow from operating activities amounted to USD 12.1 million against USD 12.7) million a year ago. Net profit amounted to USD 9.1 million against USD 15.9 million a year ago. Due to Ukrainian hryvnia devaluation during the first half of 2016, the Group has recorded negative exchange differences on translation to presentation currency in the amount of USD 3.2 million that have been reflected in the income statement.