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. Last Updated: 07/27/2016

WBD Sales Jump 19.4%, 2002 Revenues Seen Steady

Juice and dairy major Wimm-Bill-Dann said Tuesday that combined sales for the first nine months of 2002 jumped 19.4 percent compared with the same period last year.

"Juice sales volumes amounted to 329,100 tons, a 38.9 percent increase over the same period in 2001," the company said. "In the dairy segment sales volumes were 12 percent greater than in the first three quarters last year, at 700,700 tons."

Analysts said Wimm-Bill-Dann, which listed American Depositary Receipts on the New York Stock Exchange last February, was in line to boost revenues by more than production in the second half of the year.

"With total sales growth volume of 19 percent I would expect revenues to be a bit higher because of price increases and demand for more luxury products," said Vladimir Savov, an analyst at Brunswick UBS Warburg in Moscow.

WBD's profits slipped in the first half to $22.41 million from $23.19 million in the same period last year, a drop it said was a temporary one caused by an increase in costs due to national and foreign expansion projects.

WBD board chairman David Iakobashvili said last week he expected second-half 2002 revenues to grow at the same pace they did in the first half, by 21.5 percent to $402.87 million.

The company produces most of its goods around Moscow, but has been on a campaign to expand across Russia and even outside its borders to former Soviet states such as Kyrgyzstan.

Its most recent acquisition was juice and concentrate producer Despona, located in Tula, south of Moscow, which it bought for $3.4 million.

Wimm-Bill-Dann was founded, and named to sound foreign, in the early 1990s at a time when Russians preferred to buy imported goods, a situation that has now been reversed.