Roshen posts 32 per cent hike in confectionery sales

Roshen increased its sales for the first three quarters of 2010 by 32 per cent at $675m. The confectioner also recorded an output of 285,000 tonnes in 2010, up 11 per cent on the same period last year.

The company’s product range comprises more than 200 kinds of sweets, chocolate, sugar candies, cookies, waffles, fruit jellies and cakes. Its factories in Kiev, Vinnytsa, Mariupol and Kremenchug produce about 25 per cent of all Ukrainian confectionery.

The confectionery group, which has four factories in Ukraine, and facilities in Russia, as well a plant in Lithuania, is also building a new confectionery plant in Russia. In September it announced plans to build a new production facility in Cosyrevka, located in the region of Lipetsk.

Estimated at $250m, the plant's construction work will start in 2011 and is expected to end in 2016. The factory will include 40 production lines and will have the capacity to manufacture 253,000 tons of confectionery products per year, said the firm, which is aiming to significantly boost its share of the growing Russian market.

Roshen also announced earlier this year that it was planning to invest €8m in the modernization of its caramel production facility in Lithuania, through installing new caramel production lines.

The upgrade of the Klaipeda factory, which it bought in 2006, is expected to result in a monthly output rate of 1,290 tonnes of products.

The confectioner said the work would begin at the end of 2010, with €3.3m to be invested in the initial phase, and resulting products expected to be on the European market in March 2011.

Meanwhile, fellow Ukrainian confectionery maker Konti has announced a sales increase of 29 per cent in its third quarter financial results, translating as UAH 2.7bn. It also reported a hike in production volumes of 16.5 per cent.

The sweet and chocolate maker has three factories in Ukraine and a site in Russia.