RUSSIA: Weak rouble weighs on Wimm-Bill-Dann H1
By: just-food.com | 4 September 2009
Wimm-Bill-Dann Foods, Russia's largest dairy processor, has booked a jump in second-quarter earnings, although a weak rouble weighed on half-year profits.
The company today (4 September) posted a 42.6% rise in second-quarter net income to US$52.3m.
First-half net income, however, slid 17.4% to $64.9m, due to the weakness of the Russian rouble. On a constant-currency basis, first-half net income was up 12.3%.
The fall in revenues slowed during the second quarter when sales dropped 27% to $554.6m. The decrease in sales, the company said, thanks to the depreciation of the rouble. Half-year revenues fell 28.2% to $1.07bn.
However, Wimm-Bill-Dann's saw some improvement in profits at an operating level. Operating income dipped 1.9% during the second quarter to $61.4m. Over the first half, operating income was down 11.3% to $111.8m.
For the full results release click here or check back later for further comment from WBD's conference call with analysts.
Sectors: Baby food, Chilled foods, Dairy, Emerging markets
Companies: Wimm-Bill-Dann
View next/previous articles
4 Sep 2009 -
4 Sep 2009 -
Currently reading -
RUSSIA: Weak rouble weighs on Wimm-Bill-Dann H1
4 Sep 2009 -
4 Sep 2009 -
Related research
Dairy food in Eastern Europe to 2012
This databook is a detailed information resource covering all the key data points on Dairy food in Eastern Europe. It includes comprehensive value volume segmentation and market share data. The databook supplies actual data to 2007 and full forecasts...
This databook is a detailed information resource covering all the key data points on Dairy food in Ukraine. It includes comprehensive value volume segmentation and market share data. The databook supplies actual data to 2007 and full forecasts to 201...
Related articles
Top stories on just-food this week
A succession of announcements emerged from Wal-Mart this week as the world's largest retailer looked to make its sourcing more effective, drive growth in the US and launch an online strategy around a new site - Global.com. Meanwhile, retailers on both sides of the pond - Morrisons in the UK and A&P in the US - named new CEOs and the big two grocers in Australia slashed prices. These were the ten most popular stories on just-food this week.
There are currently no comments on this article
Be the first to comment on this article