August 3, 2011

Cherkizovo obtains positive H1 results

Positive first-half results at Russian firm Cherkizovo stems from a rise in poultry and meat processing volumes.

The company said yesterday (Aug 2) that its poultry sales volumes grew by a robust 18% to 117,990 tonnes in the first six months of 2011.

Sales volumes from Cherkizovo's meat processing unit climbed 6% to 70,097 tonnes.

Volumes from the group's pork division, however, were almost flat in the first half of the year, inching up from 40,936 tonnes to 41,070 tonnes. Cherkizovo's pork production had been hit by last summer's hot weather.

CEO Sergei Mikhailov said the company had delivered strong results across all segments during the first half of 2011. He also pointed to Cherkizovo's acquisition of Russian meat producer Mosselprom in May and said the deal had confirmed our status as the most active player on the Russian meat market.

Mikhailov added, "We are now in the process of integrating Mosselprom within the group's production structure. Achieving synergies will help us to increase operational efficiency in our poultry segment, where we continue to deliver against our large scale capacity increase projects."