Cherkizovo Group increased sales of poultry meat by 34% in the first half of 2012

August 2, 2012

Cherkizovo Group, Russia’s largest meat processor, increased sales of poultry meat in the first half of 2012 by 34% to 158,345 tonnes in carcass weight, the company said on Thursday.

Prices for poultry meat increased by 3% to 71.79 roubles per kilogram. Sales in the Pork division increased by 14% to 46.8 thousand tonnes for the first half of the year with an increase in prices of 5% to 81.32 roubles per kilogram. Sales in Meat Processing fell by 11% to 62.1 thousand tonnes due to inefficient capacities in the South of the Russian Federation. Meat Processing and poultry farming are the main sources of revenue for Cherkizovo Group.

Earlier, CEO of Cherkizovo Group Sergey Mikhailov told Reuters that for the year 2012 the company expects to increase production to approximately 310,000 tonnes, in the Poultry segment to 260,200 tonnes on (+19% on 2011), Pork to 120,000 thousand tonnes (+31% on 2011). In Meat Processing production Cherkizovo will amount to about 141 thousand tonnes (-3% on 2011).

The Group consists of seven of meat-processing plants, seven poultry complexes for the manufacture and processing of poultry meat, ten large pig farms and three combined fodder plants. The owners of the Group are businessmen Igor Babaev and his family.