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Cherkizovo nine-month poultry sales up 26 pct

31 october 2011
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* Poultry sales volumes 185,620 tonnes

* Prices up year-on-year, flat quarter-on-quarter

* Expects strong nine-month financials

* Shares up 5.6 percent

MOSCOW, Oct 31 (Reuters) - Russian meat producer Cherkizovo said nine-month poultry sales rose 26 percent to 185,620 tonnes, helped by the acquisition of Mosselprom and continued organic growth.

Cherkizovo said on Monday poultry prices rose 8 percent in dollar terms to $2.52 per kilogram, compared with 2010, and were almost flat in the third quarter versus April-June.

The company, which bought poultry farmer Mosselprom in May, has been building up poultry production and targeting a 20-25 percent market share compared with just under 10 percent now.

It also said sales volumes in its pork and meat processing divisions rose 7 percent to 65,800 tonnes and 5 percent to 108,420 tonnes respectively, with prices rising 15 percent to $2.74 per kilo and 19 percent to $4.54.

"The management expects that the group will produce a strong financial performance for the nine months and will further continue to deliver against its strategy," chief executive officer Sergey Mikhailov said.

Cherkizovo shares were up 5.6 percent by 0832 GMT.

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