Sotirios Marinidis, general manager of P&G Romania, thebiggest local producer of non-food fast moving consumer goods,believes the local economy will return to growth next year, andsays the company he helms will end this year, on the rise,too.
"For next year we expect the Romanian economic context will improveand that the Gross Domestic Product will rise starting in thespring-summer season. As for P&G, we think we will continue togrow at a faster pace than the economy," said Marinidis, who hasbeen running Romanian operations since July 1st 2009. The head ofP&G did not provide details on this year's sales dynamic untilthe official data are published, at the beginning of next year, butsaid the company had met the targets set out in the draft budget in2010.
However, in the past two years the business of Procter & Gambleon the Romanian market started on a downward trend amid aconsumption decline. The company posted 280 million euros in salesin Romania in 2009, down 11% against the preceding year, but theturnover reported by the Timişoara plant almost doubled during theinterval after production of Fairy detergent kicked off.
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