MHP chicken meat sales up 29% for first nine months

MHP S.A.'s revenue is up by 29% for the third quarter of the 2010 fiscal year, while chicken meat sales volume is up 29% for the first nine months, according to published numbers.

Revenue came in at UAH2 billion (compared to Q3 2009's UAH1.55 billion). Demand for chicken meat remained high throughout the first nine months of the fiscal year, according to the company, resulting in sales volume reaching 249,500 metric tons. Net income for the third quarter increased by 330% to UAH441 million (compared to UAH103 million in 2009). “We are pleased with MHP’s third quarter performance, which demonstrates strong year-on-year growth and the continued improvement in our key financial metrics driven by the performance of our poultry business," said MHP CEO Yuriy Kosiuk. "The current market conditions show how beneficial MHP's business model of vertical integration is, as it ensures stable profitability despite the fluctuations in grain prices."