The net profit of the Belgorod Gubkinsky Meat Processing Plant in 2022 decreased by 11% amid rising costs

JSC Gubkinsky MEAT Processing Plant (Belgorod Region) in 2022 reduced its net profit calculated according to RAS by 11.1% compared to 2021 - to 359 thousand rubles, the company’s report says.

The JSC's revenue for the year amounted to 3.05 billion rubles (an increase of 10.5%), cost of sales increased by 11% - to 2.62 billion rubles, gross profit - by 7.5%, to 429.4 million rubles. At the same time, commercial expenses increased by 11.6%, to 280 million rubles, and administrative expenses - by 3.9%, to 143.7 million rubles, which affected the decrease in sales profit and net profit. The company's accounts

payable for the year increased from 354.1 million rubles to 426.4 million rubles, while accounts receivable decreased from 108.1 million to 93.2 million rubles. JSC "Gubkinsky Meat Processing Plant" was created in 1992 in the Belgorod region, is part of the "BVK Agro-Industrial Group", specializes in processing and canning of meat, produces products under the brands "Gubernskaya Meat Company", "Sytodolye" and "Meat Rus'". "Agro-industrial group BVK" is a vertically integrated holding with a single technological cycle, including crop production, livestock farming, grain processing and meat production. The group's assets are located in the Belgorod, Voronezh and Kursk regions. The beneficiary is Gubkin businessman Vasily Zolotukhin.