OREANDA-NEWS. March 18, 2010. Ukrros <UROS UK U/R> Sugar Union forecasts receiving the Net Sales of USD 132.5mn (up 42%, y/y) and the Net Income of USD 12.3mn in 2010. Note that the consolidated Company’s (unaudited) Net Loss amounted to USD 0.8mn in 2009.

We see the announced forecast of UROS to be quite feasible, since the Company intends to increase its sugar output by around 48%, y/y in 2010. This, along with the quite high domestic sugar price (USD 925 per tonne), will enable the Company to improve its financials. We look positively at UROS shares and are currently revising the recommendation on them.