OREANDA-NEWS. September 27, 2010. Cherkizovo Group (LSE: CHE), one of Russia’s leading integrated and diversified meat producers, announces first half financial results for the period ended 30 June 2010, reported the press-centre of Cherkizovo Group. 

Highlights
Strong organic volume growth across all segments, delivering a solid financial performance
 
Revenues increased 26% to USD579.9 million from USD 459.3 million for the first half of 2009, and increased 15% on a rouble currency basis

Adjusted EBITDA increased 36% to USD 109.0 million from USD 80.4 million for the first half of 2009, and increased 23% on a rouble currency basis 

Adjusted EBITDA margin was 19%, increasing from 18% for the first half of 2009

Gross profit increased 24% to USD 159.5 million from USD 128.3 million for the first half of 2009, and increased 13% on a rouble currency basis

Group gross margin was a robust 28%

Net income increased 42% to USD 71.4 million from USD 50.3 million for the first half of 2009, and increased 29% on a rouble currency basis

As of 30 June 2010 Net debt decreased 13%, to USD 386.7 million.

The effective cost of debt remained at 4%.

Full report see here:
http://www.cherkizovo-group.com/en/press-center/company-news.aspx?section=22&news=1352