Avangard increases shell egg volume by 51% y-o-y in 1H11

Avangard (LSE: AVGR LI), the leading producer of shell eggs and egg products in Ukraine, increased its shell egg production volume by 51% y-o-y to 2,875 mln pieces, as a result of an increase in poultry stock during 1H11, according to a trading update released this morning. According to the update, in 1H11, the company’s total flock reached 24.4 mln heads, compared to 18.6 mln in 1H10. The average sale price of an egg increased by 2% y-o-y to UAH 0.53 (excluding VAT). Avangard also processed 534 mln eggs (vs. 287 mln eggs in 1H10). The average sale price of dried egg product during the reporting period was USD 6.91 per kg (excluding VAT), compared to USD 6.78 in 1H10.