MHP reports expectedly strong 3Q results

Обзоры по компаниям и отраслям 15.11.2012 Ukraine’s leading poultry producer MHP (MHPC LI) reported its 9M12 results, with sales growing 19% yoy to USD 1.04 bln at nearly flat chicken output (+1% yoy), mostly the result of an increase in poultry selling prices (+20% yoy). This allowed the company’s 9M12 EBITDA to improve 26% yoy to USD 379 mln and net income to advance 1.4x yoy to USD 281 mln. The company’s 3Q12 revenue advanced 10% yoy, while the growth was caused mainly by a 1.8x yoy jump in crop sales. Chicken sales remained flat yoy despite 10% yoy price growth in 3Q12, EBITDA grew just 4% yoy and net income declined 3% yoy to USD 111 mln for a one-off reason.