RUSSIA - Russian meat processing and agrifood business ABH Miratorg saw earnings rise by 38 per cent in 2014, up to a record 74.06 billion rubles.
The growth on 2013 came in key branches of the business, the start-up of new production and sustainable environmental practices.
Total sales for Miratorg rose by 14 per cent up to 493,000 tonnes in 2014.
The share of own products in the total distribution volume rose up to 77 per cent, building sales of products with high added value.
High-tech Case Ready production at the pig slaughterhouse in Belgorod region saw ready-packed products rise by 42 per cent up to 33.300 tonnes, compared to 2013.
Miratorg’s EBITDA rose to 23.2 billion rubles against the background of a pork import reduction and an increase in prices for pig products.
EBITDA profitability reached 31 per cent against 28 per cent for the previous year.
Miratorg’s net profit was 16.4 billion rubles compared to 9.7 billion rubles in 2013.
Upward growth was higher in the second half of the year against the background of welfare pricing, growth of poultry meat sales and start-up of the company’s own production of high-quality beef.
“Under the conditions of high volatility at the market our competitive advantages - control of the prime cost of the final product, high operation efficiency and developed distribution network, allowed us to utilise welfare pricing environment to the full extent,”
“We’ll focus our efforts on efficient fulfilment of company’s potential as an exporter of the products with high added value, as well as continued growth in production to increase our share in the basic segments of the Russian meat market.”
TheMeatSite News Desk