Wimm-Bill-Dann, the Russian drinks and dairy group, booked a “difficult” fourth quarter as a result of an acute shortage of raw milk.
The firm said today (25 January) that the shortage was due to both a seasonal decline in production and an “unforeseen” shortage of dry milk.
As a result, the firm said it was forced to restrict the production of some of its dairy products, in particular during the latter part of the fourth quarter.
Accordingly, the company said it expects EBITDA for the full-year to be in the range of US$300-310m, compared with $361m in 2008.
In November the firm reported a drop in sales and saw net profits dented by devaluation of the ruble in the first nine months of 2009.
Net income in US dollars dipped 0.1% to US$109.4m for the period ended 30 September, compared to the same period of last year.
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