English
Albalact Alba Iulia concluded 2006 with turnover of la 102.107.766 RON (29.007.800 EUR), up 65% from 2005, when the company posted 61.864.181 RON (16.826.930 EUR) in turnover. Net profit gained 92%, reaching 6.024.614 RON (1.711.538 EUR), compared to 3.127.564 RON (850.700 EUR) in 2005. In the General Meeting held yesterday, shareholders decided that the company"s Y2006 profit be added to reserves.
Albalact"s good results are due to the high sales for its three brands: Zuzu, Fulga and Albalact, each accounting for one third of the company"s sales. The company plans to open a new factory, in order to increase its production capacity and expand its product portfolio. The investment amounts to 10 million EUR. Albalact will also continue investing in its farm, located in Vaidei - Hunedoara, and will improve distribution. The company intends to use its 2005-2006 reserves in order to increase its share capital.
Albalact - Alba, listed on Rasdaq, is one of the five largest dairy producers in Romania. Established in 1971, the company was privatized in 1999, when the Ciurtin family acquired the majority stake. Currently, Albalact has over 500 employees and over 3300 shareholders.
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