Ukraine: MHP increases net profit by 27%
During the first nine months of 2011 MHP, Ukraine's largest industrial poultry meat producer increased net profit by 27% to $ 201 million (for the first nine months of 2010 it was $ 158 million).
Revenues increased by 30% to $ 880 million (for the first nine months of 2010 it was $ 676 million). EBITDA grew by 30% to $ 301 million (for the first nine month of 2010 it was $ 232 million), consolidated EBITDA margin remained high at the level of 34%.
For last quarter MHP has increased net profit by 105% to $ 115 million while revenue increased by 39% to $ 352 million. EBITDA of the company showed an increase of 44% to $ 143 million, consolidated EBITDA margin reached 41% in 3rd quarter of 2011 compared to 39% in Q3 of 2010.
Poultry meat production
According to the company report, sales of poultry meat to third parties increased by 13% in the first 9 months of 2011 compared to same period of the last year and amounted to 282 thousand tones through more efficient use of existing facilities and reduce stockpiles in warehouses.
The average price of chicken in the 3rd quarter of 2011 was 15% higher than in the 3rd quarter of 2010. In the first 9 months of 2011, the average price for poultry increased by 7% to 14.39 hr (US $ 1.8) .compared to 13.43 hr (US $ 1.6) during the same period of 2010.
Market share of industrial production of poultry meat of MHP in Ukraine for the first nine months of the year was 50%.
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