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Wimm-Bill-Dann Foods 1Q profit rises on sales growth

By Associated Press
June 6, 2008 | Comments (0)

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Russian milk processor Wimm-Bill-Dann Foods OJSC said Friday that its first-quarter profit rose 30 percent on strong growth in its dairy, beverage and baby-food businesses.

The company earned $41.9 million, or 95 cents per share, compared with $32.1 million, or 73 cents per share, in the prior-year period.

Revenue rose 35 percent to $731.9 million from $542.8 million in the year-ago period. Analysts polled by Thomson Financial expected revenue of $718.8 million.

Wimm-Bill-Dann said that revenue in its largest business, dairy, rose 34 percent to $555.4 million, beverage revenue grew 26 percent to $116.8 million and revenue in its baby-food segment rose 67 percent to $59.7 million.

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