RUSSIA – Wimm-Bill-Dann (WBD) has said that it is to focus on launching more added value products, having released results that show a 36% drop in net income.

It also said that it hoped to increase productivity in the face of greater competition and growing costs in the Russian dairy sector.

The drop of 36% in net income is for the first nine months of 2003 compared to the same period last year, and comes despite a comparative sales increase of 15.6%.

The company also blamed depreciation and the rising price of raw milk for the decline in gross margins for its dairy sector.

It also warned of a loss in its overall fourth quarter results due to a fall in sales and an expected rise in milk prices.