ROMANIA: Caroli Foods Group doubled its profit in H1 | Progresiv
Caroli Foods Group continues the upward trend registered in 2015 and reported in the first half of this year a turnover of 229 million lei (about 51 million euros), up by 35% compared to the same period last year. In addition, the company reported in the first six months of the year an increase of the profit, by 122%, to 8.8 million lei (approximately 2 million euros). 
The company’s performance comes as a result of constant effort by Caroli Foods Group to improve the quality of existing products, but also meet the needs and demands of consumers by launching new products. In addition, in the first half, the company completed investments of about 3 million euros, "the investments being motivated by the development of the logistics and modernization of the factory in Pitesti, by introducing new and modern production technologies", according to statements of Khaled el Solh, CEO of Caroli Foods Group.
"We are pleased with the results that the companies within Caroli Group have obtained in this first half, and the increases are not random. It is a collaborative effort to provide consumers with quality products, transported and stored at the highest standards. We are confident that we will continue 2016 at least as good as we started and we want to continue to reward consumers for their trust", said Roxana Manolescu (photo), Caroli Foods Group CFO.
The company also experienced volume growth of 25% in international retail chains compared to the same period last year.
Caroli Foods Group became the fresh cold cuts market leader in Romania through the merger with local Campofrio Food Group, market leader in processed meat products in Europe and a major global player in the field. Currently, the group owns a portfolio of the following brands: Campofrio, Caroli, Maestro and Sissi. Last year, the company reported a turnover of 400 million lei and a profit of 14 million lei, according to data submitted to the Ministry of Finance.
