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Ukrros produces 30.5 ths mt of sugar YTD

Ukrros produces 30.5 ths mt of sugar YTD

23 June 2010

Ukrros (UX: UROS UK) has made 30.5 ths mt of sugar so far in 2010, leading management to expect a significant increase in white sugar production this year, the company reported yesterday in a statement. Ukrros said it imported 41.7 ths mt of sugar cane and reprocessed 31.7 ths mt of that amount. Ukrros said it has a license to import an additional 22 ths mt of sugar cane at an import duty of 2%, which it plans to do before the new marketing year. Ruslan Patlavskyy: Based on our estimates, the current plans should allow the company to produce 61 ths mt of cane sugar this year, in addition to 130 ths mt of beet sugar, processed in the 2009 calendar year. This should grow Ukrros’ domestic market share by another 2.9 pp to 13.1% for the 2009 marketing year and should have a positive result on the company’s 2010 sales, which is estimated to grow 23% yoy to USD 114.8 mln.

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