Ukrros says five mills will be ready this marketing year

In a statement yesterday, Ukrros (UROS: BUY) confirmed its plans to launch five of its six sugar mills this marketing year. According to the company, it spent over USD 4.3 mln on their modernization. Ukrros also announced that it expected its beet harvest at 600 ths mt. According to the company, this amount will equal 50% of beets the company will process this season. Olha Pankiv: Based on management projections, the company’s average beet yield of 47 mt per ha is 9% higher than we expected. At the same time, tighter conditions with third-party beet supplies this year will likely cause lower sugar production by the company than we initially expected. We will be updating our view on Ukrros after a briefing with management, which is planned for September 23.