Myronivsky Hliboproduct cuts profit by 46%
2011-05-12 16:29:22
Net profit of Myronivsky Hliboproduct reduced in Q1 2011 against the same period of 2010 by 46% tо USD 19 million, the company statement reads, published on the website of the London Stock Exchange.
At the same time, total income of the company grew by 23% tо USD 247 million, EBIDTA index - by 15% tо USD 57 million.
According to the company statement, worsening of the net profit index is related to a growth of the euro against the dollar on the cashless currency market.
In Q1 2011, against the same period of 2010, the average price of poultry meat grew by almost 4% tо 12.83 UAH/kg (1 USD - 7.97 UAH), in compliance with the world trends on the meat market. The average price for sunflower seed oil was 54% up to 1,306 USD/ton over that same period.
The sales volume of processed meat products of Myronivsky Hliboproduct was 27% up to 7,900 tons against Q1 of the previous year.
In 2010, Myronivsky Hliboproduct increased net profit by 35% tо USD 215 million.
Myronivsky Hliboproduct is a vertically integrated company, one of the largest producers of poultry products in Ukraine (TMs Nasha Riaba, Easy!).