Cherkizovo First-Quarter Net Falls 42% on Imports, Grain Price
2011-05-24 16:54:20
Cherkizovo Group, Russia’s largest meat producer, said profit dropped 42 percent in the first quarter as imports depressed prices and feed grain prices jumped, compared with a year earlier.
Net income declined to $18.4 million from $31.9 million the previous year, Cherkizovo said today in a statement. Sales rose 16 percent to $308 million, Cherkizovo said.