ROMANIA: 10% rise in turnover for Albalact Group | Progresiv

Albalact Group, which includes Albalact SA, Raraul Campulung Moldovenesc and Albalact Logistic SRL, reported for the first six months of the year a turnover of 237,879,607 lei, 9.27% higher than the same period of 2014. It is the first time that the financial results were related to international standards adopted by the European Union (IFRS) as a result of the listing on the Bucharest Stock Exchange in the first half of the year.

In terms of net profit of the group of Albalact companies in the first half of the year, it reached 4,954,007 lei, up by 86% compared to the same period of last year, according to the consolidated IFRS financial reports.

Along with the portfolio novelties, the company continued its investments in the modernization of the production capacities, with an investment of about 8 million euros in the factory from Oiejdea, Alba County. The investments were designed to support the company's growth in the coming years and to strengthen its position on several market segments.

According to the report, Albalact is the milk market leader with Zuzu brand (UHT milk and pasteurized milk) since 2008. The same position is held in the table butter and cream segment, with De Albalact brand, while expanding Zuzu brand in the yogurt category brought the company among the top three producers of yogurt in the country. With Raraul brand and the fresh cow cheese range the company rose to 2nd place in this category.

Albalact has a portfolio of over 150 products, marketed under its five brands: Zuzu, Fulga, De Albalact, Raraul and Poiana Florilor. The company owns 99.01% of the shares of Raraul company in Campulung Moldovenesc.