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Cherkizovo Profit Up, Faces Challenges
The country’s biggest meat producer Cherkizovo said Tuesday that it expects meat prices to fall over the turn of the year as grain shortages cause producers to slaughter more livestock, creating an oversupply.
«We are now witnessing a slight oversupply of meat in the market… this puts a downward pressure on selling prices, especially for poultry sales," chief executive Sergei Mikhailov said in a statement.
He added that the company expected «a rather challenging year» for grain supplies — used by the company as animal feed.
He said the problem would be particularly pronounced in Russia, where a record heatwave destroyed crops during the summer.
Cherkizovo said net income for the nine months to end September rose 26 percent to $104.4 million, partly on increased production capacity and new farms, while revenues were up 20 percent at $877.7 million.
Cherkizovo Group unveils its exclusive processed meat products
08 june 2023
Cherkizovo Group unveils its exclusive processed meat products
Cherkizovo Group is Russia's largest sausage producer with an assortment of over 200 items, including cooked and smoked sausages, dry sausages and a variety of deli meats under the flagship Cherkizovo and Cherkizovo Premium brands. The Company maintains a strong focus on developing new product recipes to cater to the needs of a diverse customer audience. Today, we will share insights into some of our most highly rated and remarkable products.
Expert RA upgrades Cherkizovo Group’s rating to ruAA-
01 june 2023
Expert RA upgrades Cherkizovo Group’s rating to ruAA-
Cherkizovo Group (MOEX: GCHE), Russia’s largest meat producer, announces that Expert RA has upgraded its credit rating to ruAA- and revised its outlook from positive to stable.
Cherkizovo Group and Smenka complete renovation of school canteens in Russian regions
29 may 2023
Cherkizovo Group and Smenka complete renovation of school canteens in Russian regions
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Crystal Cherkizovo played volleyball game with kids from UNITY foundation
25 may 2023
Crystal Cherkizovo played volleyball game with kids from UNITY foundation
Crystal Cherkizovo, a volleyball club whose main sponsor is Cherkizovo Group, met children with cancer supported by the UNITY charity foundation to talk about the history of volleyball and play an exhibition game.
