Cherkizovo back to "normal" profits

Cherkizovo back to "normal" profits

Cherkizovo

Russian meat processor Cherkizovo said it has returned to "normal profitability" in the first half of the year amid more favourable market conditions.

A spike in grain costs and a fall in pork prices hit Cherkizovo's results in the first half of 2013. However, the London-listed group today reported a recovery in profits and higher sales for the first six months of this year.

Cherkizovo's net income stood at $115.2 mill. In the first half of 2012, it generated $95.5 mill. The company's operating income reached $130.8 mill. in the first half of 2014. In 2012, Cherkizovo's operating income stood at $109.3m. Sales rose 12% to $872.3 mill. in the first half of 2014 thanks to a mix of higher selling prices across its business and an increase in pork and poultry volumes.
Source: Cherkizovo
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