WBD sees Q4 declineThis article was originally published in Foodnews
RUSSIA's Wimm-Bill-Dann has posted significant declines in its fourth quarter results, though full year revenues still achieved a strong increase. Revenues for full-year 2008 totalled US$2.82 billion, a rise of 15.8%, while net income declined 27.3% to US$101.7 million. Of total sales, the dairy segment achieved a 13.1% increase to US$2.10 billion, followed by beverages at US$473.2 million (+14.3%) and baby food at US$254.5 million (+48.2%). Full year results were affected by a poor fourth quarter performance, where the company had a net loss of US$7.9 million on sales of US$629.4 million, compared with a profit of US$34.4 million on sales of US$680.0 million in fourth quarter 2007.