March 29, 2011

Myronivskyi Khliboprodukt posts profit of US$215 million

One of the largest producers of poultry meat, Ukranian company Myronivskyi Khliboprodukt has reported a net profit of US$215 million for 2010.

Operational earnings of the Kyiv-based company rose by almost 33% or US$233 million, compared to 2009 to US$944 million.

The EBITDA in 2010 was US$325 million, having exceeded a similar indicator of 2009 by 20%.

Commenting on the financial results of the company, Yurii Kosiuk, the board chairman of the company, said that despite unfavourable weather conditions for the market in the summer of 2010, the company managed to achieve most production goals.

He said that the results reveal an economically independent business model and enhanced the company's position for development and achievement of objectives.

Earlier, Myronivskyi Khliboprodukt, has posted a net profit of US$160 million (UAH1.275 million) for 2009.

The open joint stock company Myronivskyi Khliboprodukt is a vertically integrated complex of enterprises producing poultry meat, incubation eggs and fodder and breeds livestock for processing. The company also sells ready-made products.

The company produces poultry meat under the Nasha Riaba trademark, semi-finished meat products under the Lehko trademark, beef delicacy under the Certified Angus trademark, and goose liver delicacy under the Foie Gras trademark.