Consumer goods

Myronovsky Khliboproduk [MHPC LI, BUY], has released its 1Q09 financial and operational results. Key operational results: chicken production facilities are operating at full capacity, meat production is unchanged from the 2008 level; the poultry selling price denominated in UAH increased by 18% YoY, the cost production of 1 kg slightly decreased YoY.

Lvivska Brovarnia, a Ukrainian beer producer affiliated with Carlsberg Group Ukraine (Slavutych), increased its beer output by 43.9% YoY to 4.6 mln dal in January-April, 2009. In 2008, the company increased its beer output by 9% to 16.1 mln dal.

The government of Ukraine endorsed the draft of a bill that will increase the beer excise by 74.2% to UAH 0.54 (USD 0.07) per liter. Moreover, the government proposed to increase the wine excise by 2.8 times to UAH 1.4 (USD 0.18) per liter. The draft will be forwarded to the Parliament for further consideration and adoption.

Vinnifruit [VINIP UZ, N/R], a Ukrainian juice producer, released its financial results for 2008. Key highlights: net revenues decreased by 4.2% YoY to UAH 174.6 mln (USD 22.68 mln), EBIT shrank by 2.6 times to UAH 9.7 mln (USD 1.26 mln) and net losses amounted to UAH 104.3 mln (USD 13.55 mln).

Ukrros [36U1 GR, HOLD], the number two sugar producer in Ukraine, with a market share of 12.7% in 2008, held a meeting to update analysts on its annual financial and operational results.

Kovelmoloko [KMOL UZ, HOLD], a Ukrainian dairy producer, increased its net revenues in 2008 by 7.1% YoY to UAH 285.9 mln (USD 37.14 mln). The company’s net income shrank by 60% YoY to UAH 1.4 mln (USD 0.2 mln).

The Creative Group is a Ukrainian vegetable oil and fat producer.

MHP [MHPC LI, spec. BUY], a vertically integrated holding that is comprised of 20 enterprises focusing on the poultry business and grain cultivation, has released its preliminary financial results for the 2008 financial year.

The Ukrros [UROS UZ, U/R], one of the top three sugar producers in Ukraine, is planning to increase its land cultivated with sugar beets by 38.5% YoY to 18 thsd ha in the 2009/10 marketing year.

Myronivsky Khliboprodukt [MHPC LI, HOLD], a vertically integrated holding with a focus on poultry production and grain cultivation, plans to launch an oil extraction plant in the Chernyhiv Region of Ukraine by August-September 2009.