Loulis doubles Q1 sales

Milling and bakery producer Loulis’ turnover doubled in Q1, 2004 to 14.2 million euros compared with Q1, 2003. “The turnover growth was mainly due to higher sales, but also to the fact that all our production lines had been operating at normal capacity since last September,” Nikolaos Voudouris, Loulis Romania chairman, said. Loulis logged more than 40 million euro turnover for 2003, up 35% year-on-year and a 2.36 million euro EBITDA, up from the 0.2 million euro in 2002. Most of last year’s revenues (62%) were generated by the industrial sales division (flours and sub-products), with the remaining 38% derived from sales of various consumer goods such as flours, breakfast cereals etc. ZF