PAVA reduces net debt in Q3 2009

Published December 2nd, 2009 - 11:34 GMT

PAVA, one of major grain processors in Russia, recently announced its Q3 2009 financial results in accordance with RAS-standards. During the third quarter the company achieved a significant decrease in the amount of net debt: the figure went down by RUR70,807,000 or 6.4%.

This was accounted for by stronger cash accumulation during the first half-year, primarily initiated by the bond repurchase. Contributing to a reduced level of net debt, was the company’s efficient liquidity policy despite the severe global economic downturn. PAVA went on a major cost-cutting campaign stabilizing the cash flow from operating performance.

Today, PAVA continues to center its strategic priorities on vertical integration of business. The grain processor invests in farming expansion and production of high-margin wheat ingredients, maintaining sound approach in financial decisions.

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