Albalact makes EUR 53 mln turnover, grows profit fourfold

Local dairy producer Albalact posted EUR 53 million in turnover last year, up 18.6 percent on the previous year, the company has announced. Its net profit was four times higher last year, reaching EUR 615,000. The company was planning even better results for last year. “It was a hard year, with a tough competition and with price wars, many have tried to secure market share but few have managed to do so. On top of everything, there was the pressure from large retailers which tried to impose their own brands,” said Raul Ciurtin, president and general manager of Albalact Alba Iulia (in picture). The producer increased its turnover in the first quarter of this year by 4.44 percent already, while its profit was 2.2 times higher than in the same period of last year. Overall, it plans to grow the business by 10 percent this year.