Tue, 5th Aug 2014 07:00
August 05, 2014, Kyiv, Ukraine
MHP - Shahtarska Nova breeding farm - operations temporarily suspended
MHP S.A. ("MHP", LSE ticker: "MHPC"), one of the leading agro-industrial companies in Ukraine, focusing on the production of poultry and the cultivation of grain, announces that due to the period of active hostilities at the town of Shahtarsk (Donetsk region), Shahtarska Nova poultry farm had to temporarily suspend its operations as of August 1 for the sake of its employees' safety.
Shahtarska Nova poultry farm ("Shahtarska Nova") is a breeding farm of MHP holding. It provides the daily internal supply of hatching eggs to three MHP broiler farms: Druzhba Narodiv Nova, Oril Leader and Peremoga Nova and produces around 30% of annual MHP hatching egg output.
During the current challenging period, MHP's internal needs for hatching eggs will be supplied by reputable breeding companies from EU producers in Germany, Hungary etc. Simultaneously, the hatching eggs production at MHP's Starynska poultry farm will now be increased.
The Company expects the increase in hatching egg costs due to imports to have a slight negative impact on the overall poultry production cost. However MHP's management expect that this will not have a significant impact on the strong outlook for 2014 financial results announced earlier this year.
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