Cherkizovo to publish US GAAP results for 9 mths on Dec 1
OJSC Cherkizovo Group (RTS: GCHE) will publish its US GAAP financial results for January-September 2011 on December 1, 2011, the company said in a statement.
The group unites seven meat-processing enterprises (Moscow, Penza, Ulyanovsk, and Rostov Regions, and Krasnodar Territory), four pork complexes, two poultry complexes, and a compound feed plant. During its May 2006 IPO on the London Stock Exchange, the group raised $251 million. Igor Babayev and members of his family control the group.
OJSC Cherkizovo Group's US GAAP net profit in the nine months of 2010 came to $104.4 million, up 26% year-on-year. The company's sales revenue went up by 20% to $877.7 million.
The company's first profit in the first half of 2011 went down by 11% to $66 million while sales revenue increased by 20% to $689.1 million.
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