Miratorg 2011 net income gains 85 percent on production growth
Cereal crops, feed production, pig meat production all up over 2010 numbers
Pig meat and compound feed manufacturer Miratorg Agribusiness Holding reported an 84.5 percent growth in net income for 2011, to 5.96 billion rubles (US$196 million) on expanded production, according to the company's latest financial report.
In 2011, the aggregate volume of cereal crops harvested by Miratorg was 228,000 tons, 30 percent higher than 2010's 176,000 tons. The aggregate volume of compound feed production was 425,500 tons, 53 percent higher than the 278,000 tons in 2010. Pig meat production volume in 2011 was 170,200 tons in live weight, which is 24 percent higher than 2010's 137,600 tons.
The excellent numbers for 2011 prove that the company's strategy is the right one, said Viktor Linnik, president of Miratorg. In 2012, the company plans to continue to actively increase production capacity.