Myronivskiy Khliboproduct released operational results for the third quarter of 2012 and for the 9 months of 2012. Company’s net sales of chicken meat decreased by 7%, while price per kilogram of meat rose by 9% during Q3 2012 compared to the same period of 2011. Net volume of sales decreased by 3% for the nine months, while price went up 20%. Company increased production capacity by 4 thousand tons, reaching the level of 295 thousand tons. Company was able to sell near 100% of the goods produced. The decrease of sales volume is due to the fact that in 2011 company was selling products from stock, additionally to the produced ones. Company was able to sell 52 350 tons of oil, at 1084 USD per ton during Q3 2012, compared to 1284 USD per ton during the same period of 2011, with a net decrease in price of 9%. Company is planning to obtain higher than Ukraine’s average crops as well.

AgroInvest comment: Due to growth of chicken price, which is company’s main product we expect growth of company’s revenues, despite decline in volume sold at the moment. Company’s efforts towards growth and modernization will payoff in shape of lower operational expenses as well.

For more detail please refer to the UAIndex Daily (October 16 issue).

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UkrAgroConsult