icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Cherkizovo Group posts 66% jump in Net Income 1H 2008

Cherkizovo Group posts 66% jump in Net Income 1H 2008
Leading Russian Meat producer, Cherkizovo group, has posted a Net income of $36.3 million under U.S. GAAP

The bottom line is up 66% from 2007’s $21.9 Million over the same period, with adjusted EBITDA up 64% year on year to $72.3 million, on turnover of $559.2 million, up 63% year on year.

Chief Executive Officer, Sergey Mikhailov, said in a statement that the company was making solid progress despite a challenging market environment, with rising grain prices exerting pressure on Cherkizovo Groups margins.