Business
Analyst Update
Analyst Update.
About this update from Ukrproduct Group Ltd
[{"type":"text","content":"\n Ukrproduct Group Ltd\n07 November 2005\n\n7 November 2005\n\n Ukrproduct Group Ltd\n\n Analyst Update\n\nUkrproduct Group Ltd (\"UPG\" or \"the Group\"), one of Ukraine's leading producers\nof branded foods, will be providing the following update on trading during a\nprogramme of meetings with analysts.\n\nThe trading environment during the third quarter and for the first month of the\nfourth quarter of the current year has remained buoyant. Sales across all\nsectors are up significantly with margins being sustained. The proceeds raised\nfrom the Group's successful admission to AIM have improved the Group's\nflexibility and its ability to negotiate improved borrowing facilities.\nInvestment in the development of new products and the upgrading of production\nfacilities remains on schedule for the full year 2005.\n\nOn 4 November 2005, UPG completed the acquisitions of 100% of the capital of the\nJhmerinka Butter & Cheese Plant Ltd and 62% of the capital of the Letichiv Dairy\nPlant. These acquisitions will provide UPG with the necessary increases in\nproduction and raw material capacity to meet rising consumer demand, extend the\nGroup's raw milk supply zone and provide complementary products.\n\nNotes to editors\n\nUkrproduct Group Ltd (UPG) is one of Ukraine's leading producers of branded\nfoods. Headquartered in Kyiv and registered in Jersey, the company's main\nbusiness focuses on the production and distribution of branded food products,\nnamely packaged butter and processed cheese, to wholesale and retail outlets in\nUkraine through its own distribution network. UPG also produces skimmed milk\npowder for export to countries across Europe as well as the Far East. UPG is the\nmarket leader in the processed cheese and packaged butter segments, with\nestimated market shares of 33% and 23% respectively. UPG is one of Ukraine's\nfastest growing companies within its sector, with compound average sales growth\nof 55% between 2001-2004.\n\nOn 11 February 2005,Ukrproduct Group Ltd, became the first Ukrainian trading\ngroup to be admitted to AIM. The company successfully placed 27.2% of its share\ncapital at 53.5p per share, giving the company an initial market capitalisation\nof £22.5 million.\n\n\nFor further information:\n\nUkrproduct Group +38 044 502 8014\nSergey Evlanchik, CEO, and Dmitry Dragun, CFO\n\nFinancial Dynamics...