AFTER THE FIRST THREE QURTERS OF YEAR, "Agricola Bacău" sees a 10.1% turnover increase

After the first nine months of 2009, "Agricola Internaţional Bacău" posted a turnover of approximately 209 million lei, up 10.1% y/y.

According to company officials, "this increase is the direct result of rising poultry sales over 2008, as well as of the change of the production structure to favor refrigerated products, due to the modernization of the fowl slaughterhouse".

Turnover of the unit for the production of eggs intended for human consumption, "Avicola Lumina", increased to 22,389,732 lei, during the first nine months of the year, up 126.5% over Q3 2008. "Conagra", part of the "Agricola Bacău" group, maker of boiled-smoked foods, had a turnover of 19,311,600 lei, up 30% y/y.

At the end of Q3 2009, convenience food maker "Europrod", another of the group"s companies, had a turnover of 11,073,642 lei, up 11.0% y/y, whereas "Salbac Dry Salami", maker of raw and dried salamis, had a turnover of 22,948,676 lei, up 131.7%, over Q3 2008.

Sales increased for all of the company"s products during the first nine months of 2009, compared to last year"s similar period.

The company exported 2,000 tons of poultry and meat convenience foods, up 128% over last year. In terms of value, 2009 exports increased 157% compared to last year.

The company"s management says that the Agricola Bacău Group is expecting its turnover to increase by 5%. "After reviewing the trend, we believe that at the end of the year our turnover will be 7-8% higher than it was in 2008, with a net margin of 3.5 - 4%. We have a 3-year strategic plan, with bold goals, we are investing in marketing and performance management, we are restructuring the business and we like to think we have a challenger mentality", said the chairman of "Agricola Bacău", Mr. Grigore Horoiu, in a press release.