Ovostar improves EBITDA by 10 pp y-o-y to 43% in 9M11

Ovostar (OVO PW) posted 30% y-o-y growth in revenues to USD 34.7 mln in 9M11, both due to volume (+14% y-o-y in average) and price effects (+14% y-o-y in average), the company reported this week. EBITDA grew 69% y-o-y to USD 14.8 mln (margin up 10 pp y-o-y to 43%) and net income doubled to USD 13.3 mln. Shell egg segment revenues contributed 73% to total sales, while the rest of revenues was accounted for by the egg product segment.