Ukrproduct Group Ltd
07 November 2005
7 November 2005
Ukrproduct Group Ltd
Analyst Update
Ukrproduct Group Ltd ("UPG" or "the Group"), one of Ukraine's leading producers
of branded foods, will be providing the following update on trading during a
programme of meetings with analysts.
The trading environment during the third quarter and for the first month of the
fourth quarter of the current year has remained buoyant. Sales across all
sectors are up significantly with margins being sustained. The proceeds raised
from the Group's successful admission to AIM have improved the Group's
flexibility and its ability to negotiate improved borrowing facilities.
Investment in the development of new products and the upgrading of production
facilities remains on schedule for the full year 2005.
On 4 November 2005, UPG completed the acquisitions of 100% of the capital of the
Jhmerinka Butter & Cheese Plant Ltd and 62% of the capital of the Letichiv Dairy
Plant. These acquisitions will provide UPG with the necessary increases in
production and raw material capacity to meet rising consumer demand, extend the
Group's raw milk supply zone and provide complementary products.
Notes to editors
Ukrproduct Group Ltd (UPG) is one of Ukraine's leading producers of branded
foods. Headquartered in Kyiv and registered in Jersey, the company's main
business focuses on the production and distribution of branded food products,
namely packaged butter and processed cheese, to wholesale and retail outlets in
Ukraine through its own distribution network. UPG also produces skimmed milk
powder for export to countries across Europe as well as the Far East. UPG is the
market leader in the processed cheese and packaged butter segments, with
estimated market shares of 33% and 23% respectively. UPG is one of Ukraine's
fastest growing companies within its sector, with compound average sales growth
of 55% between 2001-2004.
On 11 February 2005,Ukrproduct Group Ltd, became the first Ukrainian trading
group to be admitted to AIM. The company successfully placed 27.2% of its share
capital at 53.5p per share, giving the company an initial market capitalisation
of £22.5 million.
For further information:
Ukrproduct Group +38 044 502 8014
Sergey Evlanchik, CEO, and Dmitry Dragun, CFO
Financial Dynamics +44 20 7831 3113
Ben Foster/ Charles Watenphul
This information is provided by RNS
The company news service from the London Stock Exchange