OREANDA-NEWS  On 14 November was announced, that Ukrainian agro-industrial group Myronivsky Hliboproduct plans to increase 1.8 times its sales proceeds up to 850 million USD. It was reported to journalists by Chairman of the Board Yuriy Kosyuk in lobby of UBS conference held in Moscow. Net profit can be increased 4 times this year and can amount to 210 million USD, compared to 50 million USD in 2007. According to his anticipations, EBITDA will be increased from 162 million USD in 2007 up to 320 million USD in 2008.

It was reported earlier that net profit of the agro-industrial complex of Ukraine Myronivsky Hliboproduct had increased 5.2 times up to 111 million USD in the 1st quarter of 2008 according to non-audited data collected under international accounting standards (IAS). In the reporting period, proceeds of the company increased 2.28 times up to 382 million USD. EBITDA increased 2.5 times in comparison with the similar period of 2007 up to 160 million USD. EBITDA margin increased by 4 percentage points up to 42%.

Open Joint Stock Company Myronivsky Hliboproduct was created in 1998 as a grain trading enterprise. Currently, the company is specialized in grain storage, protein and sunflower oil manufacture, mixed fodder production, cattle breeding, convenience meat product manufacture and crop growing. The group is one of the leading manufacturers of fowl-flesh in Ukraine with 36-37% share of the market. In May 2008, Joint Stock Company Myronivsky Hliboproduct conducted primary distribution (approximately 22.32% of the chartered capital) at London Stock Exchange. The company has gained 371 million USD as a result of the IPO.