MHP raises poultry sales 21% y-o-y in 2010

MHP (LSE: MHPC LI) increased its poultry sales volumes by 2% y-o-y in 4Q10 to 81.9 ths mt, with average price growth of 16% y-o-y, according to a trading update released yesterday. Full year poultry sales rose 21% y-o-y to 331.4 ths mt in 2010, with an average price of UAH 13.65 per kg (up 7% y-o-y). All the company’s existing poultry production facilities operated at their full production capacity throughout the year. MHP’s sunflower oil segment increased its sales to third parties by 39% y-o-y to 195.8 ths mt, with an average selling price of USD 919 per mt (up 27% y-o-y) in 2010. During the year, MHP increased its land bank from 180 ths ha to 280 ths ha. The company harvested a total of 913 ths mt of crops from its 147 ths ha planted acreage in 2010 (down by 5% due to a decrease in yields due to adverse weather conditions).