MHP 1Q11 meat processing up by +27% y-o-y

Today MHP (LSE: MHPC LI) announced its pre-close trading update for the first quarter ended March31, 2011. The company`s poultry output grew 2% y-o-y to 84.3 ths mt in 1Q11 as a result of a more effective capacity utilization, while prices for the same period appreciated by 4% y-o-y in local currency terms, reaching UAH 12.83 per kg of chicken meat. Meanwhile, its meat processing posted 27% y-o-y growth to 7.9 ths mt in 1Q11 with selling prices growing to UAH 18.22 per kg, 7% y-o-y. In 1Q11 the company also sold 45.9 ths mt of sunflower oil at an average price of USD 1,306 per mt.