Albalact posts 10 percent increase of turnover in 2014

Romanian company Albalact ended the first three months of 2014 with a turnover near 113 million RON (approximate 26 million Euro), 10 percent up compared to the same interval of previous year.

2014-05-12 15:01:24

The company posted a net profit of 11.4 million lei, out of which 7.17 million stands for special trading activities as the logistics operations that have been transferred from mother company Albalact to the new company Albalact Logistic company. The company achieved a profit worth 4.3 million lei from production and sales of dairy products, a profit 60 percent higher in the analysed interval compared to 2013.

This year, Albalact will resume the merger process with Raraul company, after the company shareholders approved the taking over transaction. Earlier this month, Albalact announced it expects a turnover exceeding EUR 100 million this year, due to the increasing demand on cheese and yogurt segments, in the context of maintained volumes for other segments, the company announced.

Also, in 2014, Albalact plans to increase the net profit by 30 percent to reach EUR 2.5 million. In 2013, the producer posted a turnover of EUR 95.7 million, with 23 percent over the result posted in previous year, and a net profit of EUR 1.9 million, a 15 percent increase over 2012.

The producer achieved 62 percent of the overall company turnover through retail chains such as Kaufland, Carrefour, Metro Cash&Carry, Mega Image, Lidl, Real, Selgros Cash & Carry, Auchan, Profi and Rewe. It also produces private labels for Penny Market (butter Boni), milk and other milk-based products for Carrefour, Kaufland and Lidl.

The company is controlled by Romanian businessman Raul Ciurtin with 42.53 percent shares, registered through Cyprus-based companies Crisware Holdings (26,86 percent) and Croniar Holdings Limited (15,67 percent).Also, the stakeholders include the Cyprus-registered investment fund RC2, with 25,45 percent shares.