Wimm-Bill-Dann could see 28% drop in H1 profit
MOSCOW. Sept 3 (Interfax) - Wimm-Bill-Dann Foods (WDB) could see a 28.2%-drop in net profit to US GAAP for the first half of 2009, analysts from investment companies and banks said in a consensus forecast.
Sales revenue could fall 26.5% and earnings before taxes, depreciation and amortization (EBITDA) - 15.5%.
The analysts said the exchange rate probably had the greatest impact on profit as half of the company's debt is denominated in foreign currency. The severe slump in dairy product sales in Q1 will also have taken its toll.
WBDF plans to unveil its H1 earnings report on September 4.
WBDF consensus forecast for H1 ($ mln):
* not including the prospect forecast
The analysts said the outlook for the second half was better as consumers continue to shift to locally produced foods and stats support, for example raising import duty on some dairy products, gains in significance.