An increase in branded sales has led Ukraine-based dairy group Ukrproduct to report that the business has performed “in line” with expectations during the second half of the year.
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In a pre-close trading update ahead of its full-year results in April, the London-listed firm said there had been a “significant increase” in the sales and production of branded products during the latter half of 2008.
By contrast, Ukrproduct said its unbranded business continued to impact its performance during the second half of the year.
Ukrproduct said the price of skimmed milk powder had more than halved in 2008, leading it to focus on domestic clients.
Nevertheless, the company said gross margins are expected to remain stable in the second half despite the volatility on global commodity prices and cost inflation.
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