OREANDA-NEWS. Net income from continuing operations almost doubled (increase 92%) to US $33,2 million (2005: US $17,3 million), reported the press-centre of  Cherkizovo Group.
Adjusted EBITDA increased 15% year-on-year to US $76,1 million (2005: US $66 million).
Adjusted EBITDA margin remains constant at 12%.
Group Gross profit increased 19% to US $149,1 million (2005: US $124,9m).
Gross margins increased to 24% from 23%.
Sales increased by 16% to US $630 million in 2006 (2005: US $544,9 m).

Business
Successful IPO on the London Stock Exchange and Russia's RTS.
Construction of four new state-of-the-art pig farms underway: two in Lipetsk Region, two in Tambov Region.
Lipetsk successfully delivered its first pork to market in December.
Successful five-year Rouble bond placed with a coupon of 8,85%, one of the lowest rates in the industry.
Extensive programme to modernise storage and distribution facilities underway: new or completely refurbished facilities now operating in St Petersburg, Kazan, Samara, Ufa, Saratov, Ekaterinburg, Perm
Divisional management strengthened by the appointment of new Chief Operating Officer and  New Poultry Division Manager

Sergey Mikhailov, Chief Executive Officer of Cherkizovo Group, said: "We are delighted with the strong progress made by the Cherkizovo business in 2006. During the period we have taken a major step forward towards achieving our aim of becoming Russia's leading producer of meat and meat products. Our poultry business is now one of the largest suppliers of chilled products in Russia and we look forward to continuing to drive growth in the division and our market share both organically and through acquisition. The Pork division has had an excellent year with particularly strong sales growth in the period. With the new state of the art facilities now in place at Lipetsk and further facilities underway in Tambov we are excited about this Division's future. Overall we have expanded our business, begun to deliver from new state of the art facilities, upgraded our sales and distribution centres, and at the same time delivered strong financial performance. We look forward into 2007 with confidence".