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Pava’s Net Profit up 2.3%, to $1mn, in 2007

Russian Financial Control Monitor

Copyright © 2007 FC-Novosti. All rights reserved.

MOSCOW. In January-September 2007, net profits of Pava, Russia's agricultural company, rose by 2.3% from the respective last year's figure, to RUR26.891mn ($1.1mn, or €0.75mn), as calculated to Russian Accounting Standards on the basis of unaudited reports.

Pava's earnings rose by 43.2%, to RUR1.93bn. The company achieved such impressive financial results due to a favourable situation on the flour market, the development of trade with CIS countries, and lower production costs per metric ton of processed farm produce.

Pava has adopted a new business development strategy. It now plans to build factories for deep and comprehensive wheat processing and the production of wheat germ oil, dry wheat gluten, high-protein feeds and bioethanol. -0-

Date:  14.11.2007

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