An increase in poultry and meat processing volumes has driven “strong” first-half results at Russian firm Cherkizovo.
The company said today (2 August) that its poultry sales volumes grew by a “robust” 18% to 117,990 in the first six months of 2011.
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Sales volumes from Cherkizovo’s meat processing unit climbed 6% to 70,097.
Volumes from the group’s pork division, however, were “almost flat” in the first half of the year, inching up from 40,936 tonnes to 41,070. Cherkizovo’s pork production had been hit by last summer’s hot weather.
CEO Sergei Mikhailov, said the company had delivered “strong results across all segments” during the first half of 2011. He also pointed to Cherkizovo’s acquisition of Russian meat producer Mosselprom in May and said the deal had “confirmed our status as the most active player on the Russian meat market”.
Mikhailov added: “We are now in the process of integrating Mosselprom within the group’s production structure. Achieving synergies will help us to increase operational efficiency in our poultry segment, where we continue to deliver against our large scale capacity increase projects.”
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By GlobalData
