Ukrproduct, one of the leading Ukrainian producers and distributors of branded dairy foods and beverages (kvass) is pleased to announce its trading update for the year ended 31 December 2020 ( FY 2020 ). · FY2020 revenue increased by 11.1% to £55.5 million (against £49.9 million in 2019), with growth delivered in part via product rebranding and repositioning. with the spreads and processed cheese products demonstrating the most significant increases of 132.8% and 79.9% respectively as a result. · Gross profit remained at a similar level to 2019 and amounted to £4.7 million. The gross profit margin decreased by 0.9 percentage points to 8.5%, as a result of the rising raw milk prices and a sharp dip in milk protein prices worldwide during peak supply over the summer months that was to some extent offset by an improvement of margins in spreads, processed cheese and beverages.
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