Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Cherkizovo Posts Net Loss

Russian meat producer Cherkizovo said on Friday it had a net loss in the first quarter as high grain prices and low pork prices weighed on its results.

The company reported a net loss of $0.6 million against a year-ago profit of $39.8 million despite an 8 percent increase in revenues to $385 million.

"In the first quarter of 2013, all meat producers in Russia faced an extremely challenging market environment ... In the second quarter, we see the situation gradually improving," Cherkizovo said in a statement.

(Reuters)

Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.