Friesland Foods Romania, leader of the domestic dairy market, last year posted turnover growth by over 12% to around 462m RON (125.6m euros), slightly below the company's initial estimates. "Growth was mainly the result of some new concepts we launched. The main brands, Milli and Napolact, rose by 20% and 26%, respectively," stated the company's representatives. They had originally projected turnover growth by 15%-20% for 2008 in RON against 2007, after the domestic arm of the Dutch group had posted a 15% growth pace in the first five months of last year. However, the 2008 growth pace exceeds the one reached in 2007, when Friesland Foods Romania hit turnover worth 413m RON (123.7m euros), up 10.7% in RON. Friesland's domestic subsidiary finalised the 2009 budget in the last quarter of 2008, a reason why the company's representatives took into account a RON/EUR exchange rate of below 4 RON. "When drawing up budgets, we estimated growth similar with last year's," added Friesland's representatives. This means Friesland Foods Romania budgeted turnover growth by over 10% for 2009, which could drive the dairy producer's results to over 500m RON in late 2008. The company says it is not considering further redundancies for 2009 and, moreover, plans to keep the investment budget at the level of recent years.
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