Russia's Chekizovo second quarter net profit up 15%

One of Russia's top meat processing firms, Cherkizovo, saw its second quarter net profit rise 15 percent to $48.3 million to GAAP, the company said on Wednesday. The company's first half net profit fell 11 percent to $66 million, it said in a statement. Second quarter revenue rose 24 percent to $382.5 million, while first half revenue increased 20 percent to $689.1 million. General Director Sergei Mikhailov was quoted in a statement as saying that the company planned to return to second quarter profitability in the second half of the year, compensating the negative effect of the first quarter results on the company's first half performance. The company's net debt amounted to $835.6 million as of June 30.