Ukrproduct’s Sales Up by 37% yoy to USD 95.8 mln in 2007

Ukrproduct Group (UKR LN: U/R) posted sales of USD 95.8 mln (+37.2 yoy) and EBITDA of USD 10.9 mln (+94.6 yoy) in 2007. Olha Pankiv: Ukrproduct’s2007 financial results beat our expectations: sales were 13.6% higher (USD 84.3 mln), and EBITDA was 10.10% above our estimate of USD 9.9 mln. The company’s net profit surged threefold yoy, while we expected more than a twofold increase. We put our recommendation under review.