22 May 2007 - Romanian dairy producer Albalact has informed the local financial media that it has more than quadrupled its Q1 2007 net profit to 1.5 million euro, up from 344,730 euro a year earlier as turnover more than doubled.
The company’s turnover grew to 11.78 million euro, up from 5.74 mln euro in Q1 2006.
Albalact’s 2006 turnover rose to 29.09 million euro, up from 16.83 million euro recorded in 2005, and net profit rose 64% to 1.3 million euro.
Last week, FLEXNEWS reported that Swiss investment fund Julius Baer International Equity Fund acquired a 5.72% stake in Albalact for 9.5 mln Romanian lei (2.89 mln euro).