Wimm-Bill-Dann Foods 3Q profit up on lower costs

AP News
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Posted: Nov 25, 2009 11:57 AM

Russian dairy, food and juice company Wimm-Bill-Dann Foods said Wednesday that its third-quarter profit climbed on reduced expenses.

The company earned $44.5 million for the period ended Sept. 30. That's up 44 percent from $31 million a year earlier.

Selling and distribution expenses declined to $87.8 million from $124.6 million, while general and administrative expenses dropped to $33.3 million from $39.6 million.

Sales slid 25 percent to $524.1 million from $702.1 million on declines in dairy, beverage and baby food sales.

Analysts surveyed by Thomson Reuters expected revenue of $774 million.

The company's American depositary shares fell 28 cents to $19.64 in midday trading.