7th Nov 2005 14:56
Ukrproduct Group Ltd07 November 2005 7 November 2005 Ukrproduct Group Ltd Analyst Update Ukrproduct Group Ltd ("UPG" or "the Group"), one of Ukraine's leading producersof branded foods, will be providing the following update on trading during aprogramme of meetings with analysts. The trading environment during the third quarter and for the first month of thefourth quarter of the current year has remained buoyant. Sales across allsectors are up significantly with margins being sustained. The proceeds raisedfrom the Group's successful admission to AIM have improved the Group'sflexibility and its ability to negotiate improved borrowing facilities.Investment in the development of new products and the upgrading of productionfacilities remains on schedule for the full year 2005. On 4 November 2005, UPG completed the acquisitions of 100% of the capital of theJhmerinka Butter & Cheese Plant Ltd and 62% of the capital of the Letichiv DairyPlant. These acquisitions will provide UPG with the necessary increases inproduction and raw material capacity to meet rising consumer demand, extend theGroup's raw milk supply zone and provide complementary products. Notes to editors Ukrproduct Group Ltd (UPG) is one of Ukraine's leading producers of brandedfoods. Headquartered in Kyiv and registered in Jersey, the company's mainbusiness focuses on the production and distribution of branded food products,namely packaged butter and processed cheese, to wholesale and retail outlets inUkraine through its own distribution network. UPG also produces skimmed milkpowder for export to countries across Europe as well as the Far East. UPG is themarket leader in the processed cheese and packaged butter segments, withestimated market shares of 33% and 23% respectively. UPG is one of Ukraine'sfastest growing companies within its sector, with compound average sales growthof 55% between 2001-2004. On 11 February 2005,Ukrproduct Group Ltd, became the first Ukrainian tradinggroup to be admitted to AIM. The company successfully placed 27.2% of its sharecapital at 53.5p per share, giving the company an initial market capitalisationof £22.5 million. For further information: Ukrproduct Group +38 044 502 8014Sergey Evlanchik, CEO, and Dmitry Dragun, CFO Financial Dynamics +44 20 7831 3113Ben Foster/ Charles Watenphul This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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