Ukrros grew January-May sugar sales by 148% yoy

Ukrros (PFTS: UROS UZ) increased its January-May sugar deliveries by 13% yoy to 54.5 ths mt, while its 5M10 revenues from sugar sales grew 148% yoy to UAH 407.9 mln (USD 51.0 mln), the company reported today. Ruslan Patlavskyy: The announced sugar sales represent just 37% of company’s last year’s production of 146 ths mt, while we expect the rest to be sold in summer. Despite the ~20% ytd drop in sugar prices to USD 783/mt, we anticipate traditional seasonal demand in summer to keep the prices stable at current level during the next three months. This should allow Ukrros to grow its FY 2010 sales by 42% to USD 132.5 mln.