Kandia: Difficult start of the year, despite optimistic forecasts

Chocolate manufacturer Kandia, one of the best-known local brands, says the beginning of the year was difficult despite optimistic forecasts made in January 2011. Despite the aggressive promotions, the chocolate market continued to decline in the first three months of the year against the similar period of 2010. "All chocolate segments fell by an overall 5-10% despite the very aggressive promotional campaigns made by the producers (...)," says Mihuţ Crăciun, general manager of Kandia, referring to the progression of the chocolate market in the first quarter. According to him, Kandia posted EUR31 million in turnover last year, down around 8% against 2009, and EUR0.4 million in profit, which compares with EUR1.4 million in losses in the previous financial year.