Profits 2.4 times higher for ILTM

Industrializarea Laptelui Targu Mures (ILTM), a dairy producer controlled by Dutch group Friesland, made net income of more than 4.6 million RON (1.3 million euros) in the first six months of the year, 140% more than for the same period last year. Turnover rose by 25% to a total of 50 million RON (14.6 million euros). Operating income derived in the first half of 2005 amounted to 6.8 million RON (1.97 million euros), an increase of 93% on the first six months of 2004. Operating revenues rose 24%. Industrializarea Laptelui Targu Mures has seen strong growth in its financial results over the last few years. The milk and cheese producer made 900,000 euros in net profits in 2004, three times higher than in 2003, against a 22.7 million euro turnover. Friesland brands sold in Romania include Milli and Oke (dairy products), Dots (chocolate bars) and Completa (coffee creamer). Its main competitors on the domestic market are Danone, LaDorna, Campina, Hochland and Albalact. ZF