Cherkizovo: net profit up 120% in Q1 2021
28 May 2021
Cherkizovo, Russia’s large-scale meat producer, has reported net profit of $88.4 million in Q1 2021, a 120%-increase as compared to the same period last year. Revenue rose 10.4% to $454.2 million due to the rising prices for poultry. In particular, Cherkizovo has raised the average selling price of broiler meat 22% to $1.7 per kilo in Q1 2021, as compared to Q1 2020. Cherkizovo’s total sales volume of broiler meat reduced 3.1% to 169,200 tonnes in the same period. Meanwhile, the company’s adjusted EBITDA declined 8.6% to $62.5 million.