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Wimm-Bill-Dann's US GAAP net profits down 27% in 2008

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MOSCOW, March 18 (RIA Novosti) - Wimm-Bill-Dann, a leading producer of soft drinks and dairy products in Russia, said on Wednesday its US GAAP net profits had declined 27.3% year-on-year in 2008 to $101.7 million.

The company, which comprises over 30 production facilities located in Russia and other former Soviet republics, said sales in the reporting period had climbed 15.8% to $2.8 billion, EBITDA (earnings before interest, taxes, depreciation and amortization) had risen 20.1% to $361 million, gross profit had grown 16.5% to $913 million and operating profit had gone up 14.6% to $245.1 million.

The company said that the ruble's devaluation in the second half of 2008 had affected its financial results in the reporting period.

Wimm-Bill-Dann has a diversified brand portfolio of more than 1,000 types of dairy products and 150 types of juice and juice-based drinks. The company occupies the leading position in the Russian dairy product market.

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