OREANDA-NEWS. May 26, 2008. Cherkizovo Group, one of Russia's leading integrated and diversified meat producers, announced the results of the Board of Directors meeting, reported the press-centre of Cherkizovo Group.

The Board of Directors decided to recommend to the Annual General Meeting of the shareholders to approve the following results of the financial year ended December 31, 2007.

The Group's consolidated net profit for the 2007 financial year according to US GAAP amounted to US\\$61,582,000. According to Russian accounting standards, net profit of OJSC Cherkizovo Group as a separate legal entity amounted to 49,594,000 rubles.

The Board of Directors also decided to recommend to the AGM to invest the net profit back into expanding the Group's business and not to announce or pay an annual dividend.

Cherkizovo Group's Board of directors has 7 members: Igor Babaev (Chairman of the Board), Musheg Mamikonian, Evgeny Mikhailov, Sergei Mikhailov, Samuel B. Lipman, Juhl Esben, Yury Dyachuk.