Friesland profit in Targu Mures halves

The Targu Mures-based dairy producer Industrializarea Laptelui, controlled by the Dutch group Friesland, posted a net profit twice as low as the same time last year, of almost 0.8 million euros (2.8 million RON). The dairy producer saw losses in the third quarter of this year, which stood at some 81,700 euros (0.28 million RON). However, the company’s sales nine months into the year increased by some 12% against the same time last year, standing at over 23.5 million euros (83.4 million RON). Company representatives estimated that by the end of this year they would exceed 100 million RON. The company had witnessed a two-fold decline in profit halfway through the year, as well, when officials blamed the drop in income on the cost increase that outpaced the increase in the revenues. Bigger spending was registered for personnel, electrical power and purchasing commodities. The Friesland group, currently the leading player on the dairy market, intends to invest some 6 million euros this year, particularly in the Bacau and Targu Mures plants, revealed Gerbrant de Boer, general manager of the group.