OREANDA-NEWS. November 21, 2007. Nutritek Group ("Nutritek" or the "Group") (RTS, MICEX: NTRI),  Russia’s largest baby food manufacturer, today announced its audited Consolidated Financial Statements for the first half 2007 financial year ended September 30, 2007, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”).

The Consolidated Financial Statements are prepared in Russian Roubles and translated to US Dollars using the official exchange rates of the Central Bank for the purposes of the current press release. The exchange rates for the Consolidated Balance Sheet were as of the balance sheet dates.  The exchange rates for Consolidated Income Statements and Consolidated Statement of Cash Flows were average for the reported years.

HIGHLIGHTS

Consolidated revenues up 32.1% year on year to US$ 230.8 million
EBITDA up 56.7% to US $37.3 million
Operating profit up 119.6% to US$ 24.0 million
Net income of US$ 16.2 million
Basic earnings per share of US$ 1.04
Net debt of  US$ 240.3 million
Total consolidated assets up 37.8% to US$ 657.9 million

Commenting on the results, Gennadiy Popov, Chief Executive Officer of Nutritek Group, said: "I’m glad to announce strong financial performance of Nutritek Group during the first half of 2007 financial year. The Group sales increased by 32.1%, EBITDA rose by 56.7%, EBITDA margin increased to 16.2%. This period was important for the further successful development of Nutritek Group. We have successfully completed IPO and became the public company ".