Rose by 46% compared to the same period last year. Revenues for the period increased by 9% to 749.3 million dollars. Profit for Cherkizovo Group in Q1 has grown by 114% to $ 39.3 million dollars on US GAAP. Revenue increased by 16% - from 361.7 million dollars to 357.8 million dollars. In 2011, the net profit of the group Cherkizovo on US GAAP amounted to 147.8 million dollars, or 3.44 dollars per share. Consolidated revenues reached 1.473 billion dollars.
According to experts at Uralsib Capital " the company's results for the second quarter of 2012 are higher than market expectations. Relatively low feed prices in the second quarter of 2012 and the expansion of business support profitability at Cherkizovo in the second quarter of 2012. High grain prices will put pressure on the company's profitability in the first quarter of 2013. Apositive impact of the financial results could be the government's desire to maintain a zero rate of income tax and interest rate subsidies for farmers.”
FG BCS experts note high production volumes and favorable pricing environment in all segments, which supports the company's profitability. Against the background of the strong results of the first half of 2012 and a favorable pricing environment, experts share a positive view of management in 2012. While the rise in grain prices and increased competition in the WTO could put pressure on the company in 2013, the strong results in 2012 should mitigate the potential risks.
Experts at Troika Dialog believe Cherkizovo Group "presented good results for the first half of 2012. We consider in our model the strong results for the first half and revise projections of profitability: higher expectations for selling prices largely offset the negative impact of increased grain prices, and we reduce the long-term forecast EBITDA margin only 0.3 Sq. Along with the new macroeconomic forecasts it lowers our EBITDA forecast for 2013-2016 to 3%. "
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.
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, 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.
Cherkizovo Group, Russia's largest meat producer, continues to expand its turkey product line under Pava-Pava, one of its flagship brands. This fall, the Company has launched sales of spiced turkey filet, a perfect choice for holiday dinners.