Cluj-based Prodvinalco group, a producer of alcoholic drinks, saw 18% turnover growth in the first nine months of the year, amid higher excises for the company''s products.
The company will start exporting to the United States in 2006.
"This year''s growth is due to the modification of prices triggered by the excise surge that occurred on April 1, 2005," Mircea Todea, general manager of Prodvinalco, told ZF Transilvania.
By October 1, 2005, Prodvinalco had reached turnover worth 19 million euros and net income worth more than 520,000 euros, the same level as in the corresponding period of last year.
The general manager expects turnover worth around 26 million euros for 2005, six million euros above the initial forecasts. Profit is expected to exceed 600,000 euros. At the same time, the Prodvinalco official said he expected next year''s turnover to exceed 27 million euros following the consolidation of the company''s position on the domestic market of alcoholic drinks and the development of exports.
Next year, the company also intends to invest 400,000 euros to modernise bottling lines, to expand the preparation-maceration capacity and automate technological processes.
These investments will join this year''s 285,000-euro funds, which were mainly targeted at the alcoholic drinks manufacturing technology, the modernisation of the facilities from the Baciu section and Gherla branch, as well as the consolidation of the sales structure.
laura.laurentiu@zf.ro
ECONOMY
There are no spectacular surprises in store for the exchange rate until the end of this year, National Bank of Romania Governor Mugur Isarescu said, referring to the significant contribution made by the RON appreciation to the growth of the 2005 Gross Domestic Product expressed in euros (up to 72 billion euros). The RON''s nominal appreciation has decreased lately as compared to last year, from 8.5% to 6.5%, but the annual average is still important. At the same time, Isarescu was reserved about the money that could be sent back to Romania by the Romanians working abroad, in the following period. "The amounts will not be very large. I''ve seen inflated estimates, probably coming from certain persons that would like to see something happen with the exchange rate," the Governor said. Also, the NBR official confirmed that the central bank had stopped buying foreign currency from the interbank market in late September.
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