February 22, 2012

Ovostar Union net profits up 36% in 2011

Ovostar Union, one of the leading manufacturers of eggs and egg products in Ukraine, reported a 36% increase in net profits in 2011 compared to the previous year, hitting up to UAH400 million (US$49.9 million).

According to the press-service of the company last year Ovostar Union sold 439 million eggs, up by 25% over the level of the previous year when this figure was about 351 million pieces. The average selling price of eggs was UAH0.62 per egg (US$0.07) in 2011, while in 2010 it was UAH0.52 (US$0.06).

The company exported 79 million eggs in 2011, a 74% increase over the previous year's total of about 45 million eggs.

It is also reported that in 2011 the company has increased capacity on the content of laying hens by 28%, from 2.1 million to 2.7 million bird places. On December 31, 2011, the total population of birds was about 3.1 million heads (2.4 million heads in 2010), out of which 2.3 million head were laying hens (1.8 million heads in 2010).

Also in 2011 the company sold 1,338 tonnes of dry and 4,072 tonnes of liquid egg products (1107 and 3285 tonnes in 2010, respectively). The average selling price of dried eggs products have increased by 14% to UAH40.32 (US$5.02) per kg, while the price of liquid products increased by 7% to UAH13.24 (US$1.65) per kg. The company exported 217 tonnes of dried egg products in 2011 (220 tonnes in 2010).