RUSSIA: Cherkizovo profits up 17% in Q1

Russian seasonings, dressings and sauces market processor Cherkizovo has detailed an expansion in benefits for the primary quarter yet said its outcomes were impacted via occasional elements and a "more tight" evaluating climate.

Total compensation for the quarter finished 31 March expanded 17% to arrive at US$31m.

Incomes rose 14% on a rouble money premise, and expanded 29% to $268m in the quarter.

Changed EBITDA for the three-month time frame was up 13% on a rouble money premise, and 28% to $48.1m.

The firm said it will currently move to quarterly monetary detailing in a bid to "further develop straightforwardness and corporate administration" in the gathering.

"For the ongoing year we remain comprehensively certain on Russian utilization, and we anticipate that the valuing climate should improve towards the final part of the year, remaining extensively positive from there on," the organization said.

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