Russia-Meat company has a good year.

RUSSIA-MEAT COMPANY TRADING WELL.

Net Profit of Cherkizovo Group to Grow by 27% in 2008

9 april 2009

Pursuant to the preliminary data, net profit of one of the largest agricultural companies in Russian meat industry, ОАО Cherkizovo Group, grew by 27% to $78.1m in 2008 from $61.6m in 2007 under US GAAP. The relevant data is presented in the company’s financial statement.

Consolidated proceeds spurred 42% to $1.2 bln. from $820.8m a year before. EBITDA was up 31% to $152.8m from $116.4m in 2007. Gross margin of the Group increased 26% to $279.4m from $222.3m in 2007.

As it is reported, the presented rates include $52.8m of subsidies due for 2008.