April 16, 2014

MHP chicken meat production increases 30% in Q1

Ukraine-based agro-industrial company Mironivsky Hliboproduct (MHP S.A.) said its overall production volumes of chicken meat in the first quarter grew about 30% on-year.

Sales of chicken meat to third parties in the quarter rose 22% to 112,270 tonnes. Domestic sales volume grew 20%, while export sales volume increased by 31%.

During the quarter, MHP's sales volumes of sausage and cooked meat slid to 6,856 tonnes from 7,340 tonnes last year, while sales of sunflower oil rose 37% to 67,520 tonnes.

In 2013, annual profit plunged 48% despite higher sales. The company's net income fell significantly to US$162 million in 2013, compared with US$311 million a year earlier, while operating profit dropped by 29% to US$272 million.