MHP increases revenue 23% yoy in 1Q09

MHP (MHPC LI), the Ukraine-based producer of poultry, in a press release this morning, announced unaudited 1Q09 results: revenue of UAH 1.039 mln, up 23% yoy; EBITDA of UAH 379 mln, up 27% yoy (margin of 37%, vs. 34% in 1Q08); and net income of UAH 299 mln, up 145% yoy (margin of 29%, vs. 14% in 1Q08). MHP noted that though all indicators grew yoy in UAH terms, when translated into USD, due to the hryvnya’s 52% depreciation, some of the figures were down yoy. The company also reported that in 1Q all of its chicken production facilities operated at full capacity and meat production volumes were unchanged yoy. MHP plans to hold a conference call today to present its 1Q09 financial results at 16:00 Kyiv time/14:00 London time/9:00 New York time – see the company’s website for details: www.mhp.com.ua