MHP increased its net profit by 143% in 2012:Q1

23-05-2012 | | |

Net profits made by one of largest poultry producers in Ukraine—MHP— have increased bb 143% in the Q1 2012 up to US$48 million (compared to US$20 million in Q1 2011).

Revenue rose by 21% to $ 298 million (Q1 2011: US$247 million), EBITDA reached 48% or US$84 million (Q1 2011: US$57 million).
The company’s sales in January-March 2012 increased by 21%  to US$297.6 million. The gross profit in the January-March increased by 40% over the same period of the last year, up to US$78 mln, operating up to 60%, to US$ 66.7 million.
Production of poultry meat
Sales volumes of chicken to third parties increased by 1% to 85.04 thousand tonnes, up from 84.30 thousand tonnes in 2011. Average sales price of chicken meat to third parties increased by 31% to UAH 16.75 (US$ 2.09) per kilogram compared to 1st quarter of 2011 (UAH 12.83 [US$ 1.6]) and remained almost at Q4  2011 levels. Exports of chicken meat increased in the 1st quarter of 2012 by almost 70 % compared to Q1 2010 and amounted to 12% of total sales.
“We began a 2012 with a strong start. Once again, we have high rates of profit and growth in EBITDA, therefore we hold a leading position in the market,” Yuri Kosyku, MHP chairman said, commenting on the result.
“Looking to the future, I want to note that the demand for our products remains high, and the Ukrainian market – is favorable for our business. Therefore, we are confident that we can continue to implement our strategy and to demonstrate strong financial results,” he added.
Source: Vladislav Vorotnikov

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