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Miratorg 2011 Net Profit Increases 85% on Growth in Production

May 15 (Bloomberg) -- Miratorg Agribusiness Holding, the largest Russian pork and animal-feed producer, said net income increased 85 percent to 5.96 billion rubles ($196 million) in 2011 after the company expanded production.

Earnings before taxes, interest, depreciation and amortization grew 40 percent to 8.8 billion rubles and sales expanded by 12 percent to 38.5 billion rubles, Miratorg said today in an e-mailed statement.

The company’s grain crop rose 30 percent to 228,000 metric tons last year, and animal-feed output increased 53 percent to 425,500 tons, it said. Pork production by so-called live weight, which includes skin and bones, climbed 24 percent to 170,200 tons, and pig herds grew 62 percent to 90,000 animals, it said.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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