Angst hits target, though not in euros

Angst, one of the leading charcuterie producers on the local market, closed last year with turnover worth 62 million euros, over 20% higher than in 2006, according to the producer’s estimates. Whereas at the beginning of 2007, Angst representatives estimated they would finish the year with a 60 million-euro turnover, six months into the year, they revised their estimates, and forecast an around 70 million-euro turnover. “We saw an over 20% turnover increase in euros in 2007, against 2006. Initially, we had targeted a 10% turnover increase for 2007, so our expectations were exceeded. The difference in euros was accounted for by the depreciation of the RON at the end of last year,” said Stefan Padure, vice-president of Angst. He added that these results were largely prompted by the development of the company’s store network (both an intensive and an extensive expansion when it opened three new stores in Oradea and two in Cluj, as well as by the development of the on-premise segment and of international store chains.