Ukraine's Ovostar Union posts net profit first quarter 2012
Strong demand played key role in raising numbers
Ukrainian egg and egg product producer Ovostar Union has posted a US$8.9 million net profit for the first quarter of 2012, a 62 percent increase over the same time in 2011, according to the company's latest financial report.
The company's total flock reached 3.4 million birds, compared to 2.5 million birds in the first quarter of 2011 and 3.1 million birds at the end of 2011. In Q1 2012 the volume of eggs produced increased 22% when compared to Q1 2011 reaching 174 mln eggs. The volume of eggs sold increased by 13 percent when compared to the first quarter of 2011, reaching 124 million eggs. The average egg price through the first quarter of 2012 increased by 12 percent, to US$0.09 per egg, attributed to increased demand for eggs on the local market.
First-quarter dry and liquid egg products sales volume amounted to 180 tons and 1,020 tons, respectively, comparing to 333 tons and 840 tons, respectively, in the first quarter of 2011. The average dry egg products selling price increased by 7 percent to US$5.36 per kilogram, while the average liquid egg products selling price increased by 22 percent to US$1.98 per kilogram, when compared to the same time in 2011. The price increases were mainly attributable to strong demand from existing and new customers, according to Ovostar.