Cherkizovo Group (LSE:CHE) Trading Update for 9 months of 2014
Moscow, October 31, 2014 – Cherkizovo Group (LSE:CHE; MOEX:GCHE), Russia’s largest meat and feed producer, announces its operational results for the nine months of 2014.
BCS initiates analyst coverage of Cherkizovo Group’s shares
BCS Financial Group started analysing Cherkizovo Group’s shares and granted them a “buy” recommendation with a target price of $18/GDR. The compound annual average growth rate of earnings per share is expected to be 66% over the next three years.
Winter Wheat Has Been Planted
Cherkizovo Group has met 100% of its target for sowing winter wheat. A total area of 28,600 ha was planted, which is 11,000 ha more than the last year’s figure. The sowing campaign was completed in the optimum agronomic period, so it is expected that winter crops will be in good condition for wintering over.
A Million for the Future
Chairman of Cherkizovo Group Board of Directors Igor Babaev supported a youth hockey team and granted them 1 million roubles of his own funds during a business trip to Penza Region.