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Siberian Achieves Boost in Profit for Q1 2009

by 5m Editor
22 May 2009, at 8:42am

RUSSIA - Siberian Agricultural Group has increased its net profit in the first quarter (Q1) of this year by one-and-a-half times compared to the same period last year.

Siberian Agricultural Group, ZAO has announced a net profit under RAS of 93.973 million rubles (RUB) in the first quarter 2009, according to Meat Russia. That is equivalent to 1.5-fold growth from the same period last year, as it is said in the company's quarterly report.

Net proceeds from sale of the company's goods and services were up 22.7 per cent to RUB 473.266 million for the reporting period, and production costs increased 6.5 per cent to RUB 320.419 million.

According to the report, 'There is a constant growth of revenues, net and gross profits in the reporting period. First of all, it is linked with increase of distribution volumes as a result of carried reconstruction of the hog breeding complex in Tomsk, and also stable growth of prices for pork.'

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