Russian meat group Cherkizovo today (2 February) forecast “strong” 2009 results on the back of higher pork volumes.
The company said its pork farms in Lipetsk and Tambov operated at close to full capacity in 2009 and sales volumes jumped by 38%. Pork prices were up 6% in rouble terms.
Go deeper with GlobalData
Poultry sales volumes dipped 2%, although rouble prices climbed 16%. Cherkizovo is investing in its poultry capacity to boost production in 2011.
CEO Sergei Mikhailov said: “Despite the tough economic environment in 2009, Cherkizovo has continued investing in production growth. These investments have concentrated on large-scale projects to increase poultry capacity, which will provide significantly higher output from 2011. The pork division has continued to deliver its volume growth in line with management’s expectations.”
Mikhailov added: “The management of the group is satisfied with the company’s overall performance and anticipates that the group will report strong 2009 results, reflecting the impact of favourable rouble pricing, and continued sales momentum for our products.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
