Mikoyan meat plant ups sales revenues 9.7% in Q1
MOSCOW. May 6 (Interfax) - CJSC Mikoyan Meat-Processing Plant, one of the biggest producers of meat products in Russia, saw its sales revenues rise 9.7% year-on-year to 2.34 billion rubles in the first quarter from 2.134 billion rubles in Q1 2012, company materials say.
Net profits, however, contracted 73% to 20.5 million rubles from 75.7 million rubles in the first quarter of last year. Gross profits were up to 595.8 million rubles from 472.5 million rubles.
The enterprise's main shareholder is CJSC Eksima, which acquired it in 1998. Eksima is a multi-faceted agri-industrial holding with twenty enterprises - including four meat-processors, the trading house Eksima, and a number of agricultural enterprises in Moscow, Kaluga, and Vladimir Regions.
The company puts upwards of 500,000 tonnes of food product onto the market annually.
The company's 2012 sales revenues amounted to 10.626 billion rubles, up from 8.633 billion rubles the year before. Net profits for last year were 60.4 million rubles versus 2011's 36.2 million rubles. Gross profits were 2.4 billion rubles versus 1.8 billion rubles.
