OREANDA-NEWS. Wimm-Bill-Dann Foods OJSC [NYSE: WBD], Russia’s leading food company, today announced its financial results for the third quarter ended September 30, 2006.

Group sales rose 27.6% year-on-year to US$439.0 million for the third quarter of 2006. Gross profit increased 49.4% year-on-year with gross margins rising to 34.1% from 29.1% for the third quarter of 2006.

Underlying operating income rose 77.1% to US$54.1 million in Q3, and more than doubled to US$129.2 million for nine months, while reported operating income including special charges increased 24.2% to US$37.9 million in the third quarter, and almost doubled to US$113.0 million for nine months.

Net income excluding special charges increased 140.7% to US$32.4 million in the third quarter of 2006 compared to US$13.5 million in the third quarter in 2005. For the first nine months of 2006 net income excluding special charges increased more than three fold to US$79.2 million from US$21.7 million in the same period of 2005.

GAAP reported net income, impacted by US$13.0 million special charges, increased 44.2% to US$19.4 million in the third quarter of 2006 compared to US$13.5 million in the third quarter in 2005. For the first nine months of 2006 reported net income including special charges more than tripled to US$66.2 million from US$21.7 million in the same period of 2005.