Avangard raises EBITDA by 44% y-o-y in 1H11

Avangard (LSE: AVGR LI), the leading producer of shell eggs and egg products in Ukraine, lifted its EBITDA by 44% y-o-y to USD 91.2 mln in 1H11, with an EBITDA margin of 41%, according to 1H11 financial results released yesterday. Revenue grew by 35% y-o-y to USD 223.9 mln in the first half of the year and net income rose by 8% y-o-y to USD 67.0 mln. Total shell egg output increased by 51% y-o-y to 2,875 mln eggs, while the company’s poultry flock expanded by 31% y-o-y to 24.4 mln birds. The average egg price increased by 2% y-o-y to UAH 0.53 per egg.