Ukrainian meat group MHP announced today (18 April) that its first-quarter sales rose on the back of higher volumes and pricing.
In a pre-close trading update for the three months to 31 March, MHP said that the volume of chicken meat sales increased by 2% on the comparable period of last year, thanks to continuing “high” consumer demand for chicken products. Meanwhile, average chicken meat prices gained 4% year-on year, the company said.
However, MHP suggested that these gains would be partially offset by an increase in poultry production costs, which “rose slightly” on the year due to higher grain and utility prices.
MHP added that its bacon, sausage and cooked meat production increased by 27% during the quarter, while cooked meat prices were up 7%.
“MHP continues to execute its strategy of increasing the company’s market share in meat processing products, by using internally produced chicken meat,” the group said.
MHP will deliver its full first-quarter results on 12 May.