Russia-based meat processor Cherkizovo has said it is “optimistic” it will report a “strong financial performance” for 2011 after disclosing sales volumes for the year.
The London-listed company said yesterday (1 February) that poultry volumes increased 34% last year to around 260,200 tonnes. The increase within Cherkizovo’s largest division was due to organic growth and the acquisition of local poultry firm Mosselprom.
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Meat processing volumes were up 3% at 145,270 tonnes, while pork volumes increased 4% to 91,400 tonnes
CEO Sergey Mikhailov said: “Pricing in the poultry division in 2011 has been relatively flat, while in the pork division pricing has increased as a result of demand rising more than expected due to its substitution from beef, where prices have been on a steep uptrend in 2011.”
He added: “Overall, management is optimistic that the group will produce a strong financial performance for the full year in line with our expectations and will further continue to deliver against its strategy.”
Cherkizovo’s full financial results will be published next month.
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