Russian meat producer Cherkizovo has posted higher profits for the first quarter of 2014.

The firm said the market environment worked in its favour throughout the quarter, with stable grain prices and an increase in poultry meat and pork prices.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Net profit reached US$25m versus a loss of US$6m for the same period last year.

Operating income was also up to US$34.7m from US$5.8m for the same period last year.

Sales dropped 2% to US$376.6m due to the weakening of the Russian rouble against the dollar, Cherkizovo’s reporting currency.

Cherkizovo GDRs listed in London were up 0.61% today (28 May) at $11.60 at 12:52 BST.

GlobalData Strategic Intelligence

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

Click here for the full results statement.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now