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MOSCOW, April 9 (Reuters) - Russian farming conglomerateRusagro Group made a record profit last year, havingreaped the benefits of a national ban on Western agricultureproducts and the decline of the rouble.
The company, a producer of pork as well as sugar and oilfats, said on Thursday net profit for the year jumped to 20.2billion roubles ($385 million) from 3.2 billion roubles in 2013.
Sales in its meat segment rose 139 percent, driven byincreased prices following Russia's import ban, imposed inAugust in response to international economic sanctions overMoscow's role in the Ukraine crisis, and higher sales volumesafter the launch in 2013 of new pig breeding facilities.
Sales in the sugar segment grew 32 percent as a result ofincreased volumes and prices. Local sugar prices are linked tothe dollar quotes on commodity exchanges and when the roubleshrank last year, local rouble prices rose sharply.
Rusagro said its fourth-quarter net profit rose almostsixfold to 7.7 billion roubles and adjusted earnings beforeinterest, taxation, depreciation and amortisation grew 79percent to 6.8 billion roubles.
It said its board had proposed a final 2014 dividend of130.03 roubles or $2.35 per ordinary share, and 26.01 roubles or$0.47 per global depositary receipt, totalling 3.1 billionroubles.
The company is listed in London as Ros Agro Plc andcontrolled by the family of Vadim Moshkovich, a member of theFederation Council upper house of parliament. It had earlierpaid 2 billion roubles in interim dividends for the first halfof 2014.
Its shares were up 2.3 percent by 0827 GMT. ($1 = 52.5160 roubles) (Reporting by Maria Kiselyova; Editing by Alexander Winning andTimothy Heritage)
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