March 21, 2012

MHP reveals net profit rise of 20% last year

Ukrainian poultry producer, Mironovskiy Hleboproduct (MHP) SA, said that its net income for 2011 rose by 20% from 2010 to US$259 million on increased sales and higher chicken-meat price.

Sales volumes rose by 12% in 2011 to 370,900 tonnes, compared with the previous year and revenue rose 30% to US$1.23 billion from a year ago, the Kiev-based company said in an e-mailed statement today.

Average chicken meat price rose by 10% in 2011, according to the statement. Export sales of chicken meat rose by almost 80%, compared with 2010, MHP said adding that it is selling on new markets in Libya, Lebanon, Uzbekistan and Angola.