Zaharul Oradea, part of German-French group Cristal Diamant, posted 130% increase in its nine-month turnover, against the similar period of last year, amid the sale price hike and the growth in sales volume.
The company projects turnover worth 56 million euros for this year, double against 2005, considering the growth pace was estimated at 10% earlier this year.
"Following the growth witnessed by the sugar market over the recent months, namely the price hike and the rise in sales volume, we decided to revaluate the forecasts made at the beginning of the year. We regard the domestic sugar market as unstable, but as one that is still developing," stated Corneliu Pentilescu, general manager of Zaharul Oradea. According to data posted on Ministry of Finances' web site, the company derived turnover worth 28 million euros (103.9 million RON) in 2005.
"This is the first year when we witness an upward trend, after we posted the same turnover values in 2004 and 2005," adds Pentilescu.
Zaharul Oradea budgeted for the following years investments worth some 10 million euros, targeting a project related to energy saving and consumption reduction, which comes to continue the last year's investments that amounted to 2 million euros and were aimed at cutting energy consumption and the modernisation of production capacities.
According to the company representatives, the investments in the Oradea- based factory are necessary to cope with the competition on the sugar market, in the wake of the EU accession.
Over the recent years, the company invested some 6 million euros to boost productivity and create new packaging.
Moreover, the company also increased its capital by 25 million euros at the end of 2005, funds that will be used for investments, as well.
Zaharul Oradea produces under Brilliant and Diamant brands, the former being packaged only in 50 kilo sacks, while the latter is available in seven different types on the market.
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