OJSC Cherkizovo Group (“Cherkizovo” or “the Company”) 9 months Trading ResultsCherkizovo, one of Russia’s leading integrated and diversified meat producers, today announces its trading results for the first 9 months of 2008.
Poultry Division
Total sales volumes in the Company’s poultry segment increased in the 9 months of 2008 by 13% to approximately 137,000 tonnes as compared to approximately 121,000 tonnes in the same period in 2007. Prices for poultry increased by 19% in the 9 months of 2008 to $2.58 per kg (excluding VAT) as compared to $2.16 per kg (excluding VAT) in the 9 months of 2007. In rubles, prices increased by 11% to 62.03 rubles per kg (excluding VAT) as compared to 56.05 rubles per kg (excluding VAT) in the 9 months of 2007.
Pork Division
Sales volumes in the Company’s pork segment increased by 61% in the 9 months of 2008 to approximately 29,000 tonnes, from approximately 18,000 tonnes in the equivalent period in 2007. Throughout the 9 months of 2008, pork prices in Russia followed the global positive pricing trend and increased by 30% to $2.75 per kg of live weight (excluding VAT) compared to $2.12 per kg (excluding VAT) in the 9 months of 2007. In rubles, prices increased by 20% to 66.16 rubles per kg of live weight (excluding VAT) compared to 54.98 rubles per kg (excluding VAT) in the 9 months of 2007.
Meat-processing Division
Sales volumes in the 9 months of 2008 within the meat-processing segment increased by 1% to approximately 110,000 tonnes as compared to approximately 109,000 tonnes in the 9 months of 2007.Average prices within the meat-processing segment increased by 26% in the 9 months of 2008 to $4.15 per kg (excluding VAT) as compared to $3.29 per kg (excluding VAT) in the 9 months of 2007. In rubles, the prices increased by 17% to 99.67 rubles per kg (excluding VAT) as compared to 85.14 rubles per kg (excluding VAT) in 2007.
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