Kandia-Excelent hurt by consumption decline

Chocolate manufacturer Kandia-Excelent posted a turnover worth 7.9 million euros (27.8 million RON) in the first quarter of this year, an 11% drop against the same period of 2005. The net profit posted by the company almost saw a four-fold decline, from 1.37 million euros (5.1 million RON) in the first three months of 2005 to a mere 380,000 euros (1.35 million RON) this year. “Results in the first quarter are generated by consumption, which, if you take into consideration the first four months of the year, is lower than in 2005,” Sorin Alexandrescu, general manager of the company, told ZF. He explained that the trend of results was due to the drop in consumption. “We do not see too much of danger in these results, because it is a normal situation on a market such as that of Romania this year,” says Alexandrescu. ZF