November 2, 2012

Russian Sea Group reports Q3 2012 revenue

Press release

             
Russian Sea Group, one of Russia's leading consumer food companies, announced Friday (Oct.5) its revenue for the third quarter 2012 based on unaudited management accounts.

Consolidated revenue increased in the third quarter 2012 on-year by 5% to RUB4,055.5 million (US$130 million). Nine months 2012 revenue amounted to RUB11,623.1 million (US$371 million).

Sales to external customers in chilled and frozen segment increased by 10.2% to RUB3,397.3 million (US$108.5 million) in the third quarter 2012 mainly due to salmon and trout sales growth in modern retail trade channel.

Sales to external customers in ready-to-eat segment decreased by 16% to RUB654.1 million (US$21 million) in the third quarter 2012 from RUB778.7 million (US$25 million) in the third quarter 2011. Factors that contributed to further sales decrease in the third quarter 2012 were the same as in the first half of the year.

Russian Sea Group was founded in 1997 and at present, is one of the leading Russian producers and importers of ready-to-eat products and is a leader in distribution of chilled and frozen fish and seafood. The chilled and frozen fish and seafood business sources fish from domestic suppliers, as well as foreign suppliers from 18 countries, including, among others, Norway, the UK, the USA, Chile, Iceland, Vietnam and China. Aquaculture segment (Russian Sea - Aquaculture) is represented by two projects: trout farming in Karelia and Atlantic salmon farming in Murmansk region.