Albalact triples profit in the first six months

Albalact Alba Iulia, a top five dairy producer domestically, controlled by Ciurtin family, ended the first half of this year with turnover worth 116.2m RON (27.6m euros), up 30.6% from a year ago. At the same time, Albalact’s net income rose to 2.8m RON (some 670,000 euros) from 0.9m RON in the first half of 2008. The company’s operating income also advanced in the first half, to 6.2m RON (1.4m euros), almost 3.5 times from 1.7m RON in the same period of 2008. According to the company’s representatives, first half figures are in line with the company’s initial estimates, with Albalact having projected a growth pace above the market level for 2009, of 5-7%. Early this year, Raul Ciurtin, Albalact chairman and shareholder, told ZF he planned to achieve 40% turnover growth by yearend from the 2008 figure. Albalact opened a logistics centre near Bucharest, in the wake of a 3m-euro investment and is to finalise the first modernisation stage of its own farm in Vaide, Hunedoara.