October 20, 2012

Russia's BEZRK-Belgrankorm's net profit doubles in Jan-Sep 2012

 

Russsia's BEZRK-Belgrankorm's net profit rose to RUB2.3 billion (US$74.7 million) in the first nine months of 2012 from about RUB1 billion (US$32.5 million) on-year.

"The company's poultry output stood at 164,000 tonnes over the first nine months of 2012, up 12% on the year. The holding produced 27,000 tonnes of pork, up 42%," a spokesman told RIA Novosti Thursday (Oct.18).

The main shareholder Alexander Orlov said that the sales profit amounted to RUB19.1 billion (US$620 million), up 17% on-year. He said that the company has no problems with poultry sales, which is its core business, but might face difficulties with pork sales as WTO regulations eliminated the duties for pork imports, and the duties per kilogramme of live weight dropped from 40-50%.

Orlov said that the company plans to start processing pork at its own facilities to avoid losses.