(1888PressRelease)
May 15, 2009 - A major Russian grain processor PAVA has disclosed the 30.5% increase in 2008 gross earnings compared to the year before.
According to the estimates based on Russian Accounting Standards, in 2008 the figure stood at RUR 223,372,000 which is another positive achievement in the company’s financial dynamics, following the 35.7% growth of revenue over the same period.
Apart from seeing the advantageous price trends for grain processing products both in Russia and abroad, PAVA was able to increase profitability of business by launching new efficient technologies.
Unique “Zhitnitsa” flour, developed by PAVA as a product with unprecedented nutritional value, was also a significant step towards higher output.
The positive dynamics is also attributed to export sales rocketing by 77.5%, increasing the share of this high-margin item in the structure of the company’s income.
Expanding scope of business and enhanced cost controls allowed to deliver solid earnings growth despite the difficult environment.
PAVA is one of the leaders in the national agri-business sector, currently implementing a transition to a vertically integrated holding through the project Russian Agricultural Division (land acquisition and farming) and Grainvest (deep processing of wheat grain).
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