September 5, 2012

Ovostar's revenue increases by 26% due to rising egg product prices

Ukraine's Ovostar Union gained from rising prices of egg products as the firm's revenue increased by 26% to US$27.79 million.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 43% to US$13.15 million.

Ovostar Union's net profit rose by 42%, to US$12.2 million.

The rise in egg prices is caused by a drastic increase in the cost of feed, as many areas of the world struggle with drought.

As of June 30, the total flock reached 3.5 million birds compared to 2.5 million birds a year ago.