Russian Meat Producer Cherkizovo Group Sees Boost From Retail Sales In First Half
Russian meat producer Cherkizovo Group has posted a 8.8% increase in revenue in the second quarter of its financial year, to RUB 60.6 billion (€690 million).
The group said that the sales increase was driven by a 7% increase in the retail channel, with chicken, turkey and meat products seeing a sales boost, particularly its Chicken Kingdom, Pava-Pava and Cherkizovo brands.
Adjusted EBITDA rose by 27.7%, to RUB 10.3 billion, while EBITDA margin increased to 17.1%, up from 14.5% a year earlier.
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