EnglishShareholders in dairy producer Albalact next month will discuss a share capital increase by 47,468,675 RON (15,131,869 EUR), from 19,433,617.30 RON (6,194,968 EUR) to 66,902,292.90 RON (21,326,838 EUR). The company will issue 474,686,756 nominal shares with a face value 0.1000 RON. Shareholders will contribute 38,867,234.60 RON, while the remaining 8,601,441 RON represent company reserves from the profit obtained in 2005 and 2006.
The company needs new investments, as the new Albalact dairy plant will be launched soon, according to CEO Raul Ciurtin. Albalact will invest mainly in logistics and raw material. The investment in Albalact"s new plant will amount to 10 million EUR. The facility will double the company"s dairy production.
Albalact posted a turnover of 11,461,275 EUR in the first quarter of the current year, recording a 215% increase from 5,325,925 EUR in the same period last year. Net profit totaled 1,500,000 EUR, up 435% from 344,730 EUR in the year-ago quarter.
Last year, the company reported a 65% increase in turnover, from 61,864,181 RON (16,826,930 EUR) in 2005, to 102,107,766 RON (29,007,800 EUR) in 2006. Net profit amounted to 6,024,614 RON (1,711,538 EUR), up 92% from în 2006, de la 3,127,564 RON (850,700 EUR) in 2005.
Albalact - Alba Iulia is among the five largest dairy and dairy products manufacturers in Romania. The company has some 500 employees and over 3500 shareholders and is listed on Rasdaq.
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