Russian meat producer Cherkizovo posted a decrease in sales volumes for its meat processing division despite increases in both its poultry and pork units.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
In a pre-close trading update ahead of its annual results for the year ended 31 December, the company said sales volumes in its meat processing segment remained “largely flat” and were slightly lower year-on-year, down 3% to around 145,000 tonnes.
The group’s poultry division posted a 12% increase in total sales volumes compared to 2007, increasing from around 167,000 tonnes to 187,000 tonnes of slaughter weight.
Cherkizovo said the 2008 financial year was a “landmark” one in the company’s pork segment, as it completed construction and started production at its new greenfield farms in Lipetsk and Tambov.
Sales volumes were up 40% to around 39,000 tonnes, compared to around 28,000 tonnes in 2007.
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 GlobalDataCommenting on the performance CEO Sergei Mikhailov said: “Overall, we are satisfied with the company’s performance in 2008, despite the challenging operating environment. We are confident that we will produce a strong performance in 2008, and in 2009 we will concentrate on further increasing the efficiency of our operations.”
