Avangard reports 1Q11 trading update

Avangard (LSE: AVGR LI), a producer of shell eggs and egg products in Ukraine, today announced its trading update for 1Q11. During period, Avangard produced 1,393 million shell eggs (31% of 2010 production, previous quarter figures were not disclosed). The average selling price amounted to UAH 0.54 (excluding VAT) per egg vs. UAH 0.57 for full-year 2010. During the period, the total flock increased to 25.2 mln birds from 24.3 mln at end-2010. In the egg products segment, the company processed 269 mln eggs (19% of the total production vs. 21% in 2010).