Russian meat firm Cherkizovo today (12 August) issued a mixed trading update, with pork and poultry volumes up but volumes at its meat processing business falling.
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Poultry volumes climbed 5%, while pork volumes were up 8%, Cherkizovo said.
However, falling sales of low-marging products weighed on volumes from the group’s meat-processing operations, which tumbled 14%.
CEO Sergei Mikhailov said: “Despite the challenging economic conditions and lower consumer spending in the first half year, we saw favourable ruble pricing and sales trends for our products. We remain cautiously optimistic about consumption patterns and pricing trends for our products for the rest of the year.”
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