Bakery producer Pambac expects 5% turnover increase

Pambac Bacau, one of the leading players on the milling and bakery market, ended last year with turnover worth 195.4 million RON (53 million euros), up 21% in RON and 9.2% in euros against the previous year, below the company's original estimates. In the same period, Pambac's profit fell by over 70% against 2007. "In 2008, the company's profit amounted to 3 million RON, and was significantly affected by the abrupt increase in the exchange rate in the last part of 2008," said Alin Giurea, chairman and general manager of Pambac Bacau. The producer had initially forecast a 206 million-RON turnover for 2008, 27% higher than in 2007 and an 8 million-RON profit. Additionally, Pambac representatives expect an under 5% turnover growth rate for this year. "For 2009 we expect an around 200 million-RON turnover, a slight rise against 2008. In the coming period, we will focus on the markets we know well, and we will finish the restructuring of all divisions and departments, in order to rapidly adapt to the new market conditions," added Giurea.