MHP increases chicken meat sales 20% yoy in 2Q09

Mironivskiy Hliboproduct (MHPC LI) said in a pre-close trading update on 1H09 this morning that it increased its volume of chicken meat sales by 20% yoy to 65.8 ths mt in 2Q09, and by 6% yoy to 111.3 ths mt in 1H09. The company attributed the rise to the launch of production at Myronkivka phase two, which it completed this last quarter and expects to reach full capacity in 2H09. MHP said it had sold close to 100% of the chicken it produced. In addition, MHP said it has started its harvesting campaign and expects yields to be significantly above the Ukraine average; it controls 180 ths ha – 155 ths ha for grain growing and 25 ths ha for other agricultural operations.