Agrisol income down 65%

Poultry producer Agrisol International, a major player domestically, last year generated net income worth 12.7m RON (around 3.8m euros), down 65% from the net figure derived two years ago. Last year, most poultry producers registered losses or a fall in income after the price of grain doubled or, in some cases, even tripled due to rising costs, whilst poultry prices advanced by around 3%. The company’s shareholder decided to invest the largest part of last year’s income to increase its share capital, according to Official Gazette information. Thus, around 11.97m RON (3.5m euros) from 2007 income will be used to increase the share capital of Agrisol International to 43.4m RON (13m euros). The company did not report last year’s turnover, although 2006 turnover stood at 27.5m euros. The company is 50% held by Sarels International registered in Cyprus and represented in Romania by the Lebanese-born businessman Youssef Laoun.