8th Sep 2016 11:33
LONDON (Alliance News) - Ukrainian dairy foods and drinks producer Ukrproduct Group Ltd on Thursday said trading in the first half of 2016 continued to suffer amid ongoing weakness in its domestic market.
The company said volumes declined in the first half, though revenue was only down marginally in constant currencies. Gross margins improved, but prices remained constrained by competition, low consumer confidence and sapped spending power.
Branded products revenue improved, the company said, while private label contracts offering thin margins have been terminated.
Ukrproduct said it continues to target a return to profitability but said its markets will remain competitive.
Shares in the company were untraded on Thursday, having last traded at 3.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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