Russia’s Wimm-Bill-Dann Foods has announced strong financial results for the third quarter.

Highlights included group gross margin improving to 36% in the third quarter of 2009 compared to 33.7% in the third quarter of 2008, and to 34.6% in the first nine months of 2009 from 32.2% in the same period last year.
Operating profit margin increased by 290 basis points to 12.5% in the third quarter of 2009, and by 230 basis points to 11.1% in the first nine months of 2009.
Group revenue in US dollars decreased 27.3% year-on-year to $1,595.6m in the first nine months of 2009, driven by rouble devaluation, and partially offset by stronger mix.
Net income in US dollars increased 43.5% year-on-year to $44.5m in the third quarter of 2009.
On a constant currency basis, (in roubles) net income almost doubled in the third quarter of 2009 compared to the third quarter of 2008, and increased by 33.1% year-on-year in the first nine months of 2009.
Operating cash flow rose 12.8% year-on-year to $190m in the first nine months of 2009.