OREANDA-NEWS. On 15 May 2009 was announced, that according to the company financial statements based on RAS, in 2008 the unconsolidated revenue of OJSC PAVA was up by RUR1,020,281,000 compared to the figure in 2007, which represents a 35.7% increase.

Last year, one of major Russian grain processors earned the total revenue of RUR3,878,358,000. The favourable results achieved by PAVA are accounted for by a combination of factors which include advantageous market environment, positive price dynamics and the successful build-up of sales operations as the client base saw steady increase throughout the year. PAVA prime-quality products showed excellent performance, with high incomes generated by the innovative grade of flour “Zhitnitsa” and wheat germ oil, recently added to the company product portfolio.

One of key players on the national agricultural market, the company also managed to significantly expand its export potential in 2008, as the overseas shipments experienced a 77.5 growth on the previous period. Notably, despite the market pressure, the company is targeting to expand its presence abroad in 2009 and diversify sales.

“We are pleased with the revenue dynamics, and confident in our ability to accomplish all PAVA’s business initiatives. Maintaining strong cash flow is essential, as now PAVA is making strategic investment for the future, re-shaping its business model into the leading vertically-integrated agroholding”, commented Sergey Balaenkov, PAVA Chief Financial Officer.