Cherkizovo records "strong" H1.
Russian meat processor Cherkizovo said it performed "strongly" across all segments of the business in the first half as demand for domestic meat increased.
In a trading update today (11 August), Cherkizovo said total sales volumes in its poultry division increased 8% to around 99,860 tonnes. Prices increased by 5% in dollar terms to US$2.30 per kg.
In the firm's pork division, first-half sales volumes rose 75% to around 37,160 tonnes, while prices climbed 5% to $2.40 per kg.
The company said it witnessed recovery in demand for its meat division’s products. Sales volumes in the segment increased 8% to 66,200 tonnes and prices reached $3.81 per kg, a 13% increase on the prior year.
Sergey Mikhailov, CEO of Cherkizovo, said: "In the first half of 2010 Cherkizovo performed strongly across all segments, reflecting the increased demand for our products, primarily driven by the decrease in imports and subsequent demand for high quality domestic meat.
"To date, the adverse weather conditions and fires in Central Russia, have not affected any of Cherkizovo’s poultry or pork farms. Accordingly, we expect to achieve targeted levels of production for 2010," he added.
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