ROMANIA: Albalact business, up by 12% in the first quarter | Progresiv

Albalact group of companies reported in the first three months of this year, a consolidated turnover of 121.3 million lei, 11.9% higher than the turnover of the group in the first quarter of last year, according to the company’s unaudited financial results.

Albalact’s net income in the first quarter was 3.6 million lei, up by 24% compared to the net income from the same period last year.

“We will continue the same strategy for the healthy growth of the business and the premises are good and give us confidence that we will achieve our year-end objectives. The VAT reduction to 9% for food products will improve purchasing power and we believe it will lead to a slight increase in consumption”, says Stephane Batoux, General Director of Albalact.

In addition, Albalact’s shares are traded on the regulated market managed by the Bucharest Stock Exchange after the Board of Directors approved the company's listing on the main market after the transfer from Rasdaq.

Albalact is the largest Romanian dairy processor. In 2014, the dairy manufacturer has completed investments of about 8 million euros for the modernization and expansion of the production capacity of the factory in Oiejdea, Alba county. The investments were designed to support the company's growth in the coming years and to consolidate its position on several market segments.