Cherkizovo Pork Business Boosts Sales In First Nine Months
Russian meat producer Cherkizovo has announced sales volumes of 701,411 tonnes in the first nine months of the year, representing an increase of 5.9% compared to the same period in 2016.
The company experienced growth across all of its business segments, including poultry (+4%), pork (+13%), and meat processing (+5%).
Due to the seasonality of the business, Cherkizovo reports the results of its grain farming division annually.
Cherkizovo's poultry division saw sales volumes increase by 4% to 358,373 tonnes during the first three quarters, which the company attributes to a growth in production from improved operating performance.
Pork volumes experienced a 13% increase, reaching 148,722 tonnes, due to higher production levels following the launch of two new plants in Voronezh and Lipetsk. Average prices also rose by 8% year-on-year to RUB 93.74/kg.
Meanwhile, the company's meat processing unit saw sales grow by 5% to 167,346 tonnes, and increased its market share in the retail channel.
Cherkizovo has announced its intention to expand further in the Voronezh, Lipetsk and Penza regions. Last month, the group was named Russia's top meat supplier.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.