Meinl Austrian family, owner of Julius Meinl coffee brand, tookover 1.5m-euro losses as it acquired Kandia chocolate producer.Kandia-Excelent company last year reported 33.4m-euro turnover anda negative result of 1.5m euros, in line with Trade Registry data.In the 3 years in the hands of British Cadbury, Kandia business,ranking second on the domestic chocolate market, remained flat anddid not manage to turn profitable, reporting cumulated losses ofalmost 8m euros during 2007-2009 period. Last year, the financialfigure reported by the domestic company was similar with that of2007 (-1.5m euros), the year when Julius Meinl sold Kandia-Excelentto Cadbury for a record high sum for the confectionery market, 100meuros. However, the company had around 200 employees less in late2009 than at the moment it was sold. The reports the producer filedwith the Trade Registry show the company in 2009 reshuffled itsbusiness. On the other hand, Kandia-Excelent turnover rose by 15%in RON on a falling market, which could translate through expandingmarket shares of brands part of the producer's portfolio.
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