Russian juice and dairy giant Wimm-Bill-Dann Foods has reported lower net income for the first half, despite higher sales.
Wimm-Bill-Dann’s sales rose 17.5% to US$681.7m in the six months to 30 June, compared to $580.4m in the first six months of 2004.
Net income decreased to $8.3m in the first half of 2005 from $12.9m in the first six months of 2004.
Wimm-Bill-Dann is a leading manufacturer of dairy and juice products in Russia. The company currently owns 27 manufacturing facilities in Russia and the Commonwealth of Independent States (CIS), as well as trade affiliates in 26 cities in Russia and the CIS.
Wimm-Bill-Dann has over 1,100 types of dairy products and over 150 types of juice, nectars and still drinks. The company currently employs over 17,000 people.