Cherkizovo 1Q Net Profit $31 Mln
Some analysts had expected poultry prices to rise at the start of 2010, when Russia banned poultry rinsed with a chlorine solution that is commonly used in the U.S. Until then, the U.S. had supplied a large proprortion of the chicken legs and thighs consumed in Russia.
However, Cherkizovo said that poultry prices fell at the start of the year because Russian producers had stocked up, particularly on imported chicken, in the previous months.
Cherkizovo's statement on prices was included in its first-quarter financial results, in which the company reported a 29% year-on-year rise in revenue to $268.0 million and a 32% increase in net profit to $31.0 million.
Other news
Petelinka takes to the ice on the country’s main skating rink!
Petelinka, one of Cherkizovo Group’s flagship brands and the best-selling chicken product, has entered into partnership with the iconic GUM Ice Rink, which opens annually on Red Square. This year, visitors will have an opportunity to take a break in the cozy Petelinka cottage and take photos next to a Christmas tree standing on chicken legs.
Cherkizovo employees join efforts to support stray animal shelters in Moscow
Cherkizovo Group employees have held a volunteer event supported by the Ray Foundation for Helping Homeless Animals. They brought food, medicines and other useful supplies to two Moscow shelters and helped with dog walking.
Petelinka and Pava-Pava win Product of the Year awards
Cherkizovo Group’s chicken and turkey products have once again been awarded the annual Product of the Year title, with flagship brands Petelinka and Pava-Pava winning two categories of the award.
Cherkizovo Group unveils its products at international exhibition in Ufa
Cherkizovo Group, Russia's largest meat producer, is taking part in Our Brand, an international food festival in Ufa. The Company showcased its products during a tasting session at its stand.