News 3050 views 1 commentupdate:Mar 9, 2016

Ovostar Union launches egg exports to the EU

Ovostar Union, the second large producer of egg and egg products in the Ukraine, has launched the first deliveries of eggs to the European Union, the company has announced.

"I am pleased to note that in June 2015 the Company has started first shipments of our products to the European Union. Successful expansion of our sales geography is an important tool for the implementation of our organic growth program within the chosen concept,"said CEO Boris Belikov.

"Together with a gradual recovery in prices on the domestic market and strengthening of our export positions, we see a high demand for our products," he added.

Increased egg production

According to Belikov, new export markets support the company's confidence in obtaining sustainable results in the future. As previously reported, in 2014 Ovostar Union increased egg production by 16.2%, or by 145 million units to 1,038 million units, compared with 2013 year.

Last year the company ended with a net profit of US$ 25.825 million, reducing net income compared to 2013 by 6.9%, or US$ 5.562 million to US$ 74.78 million.

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