Zaharul Oradea: turnover down by 45%

Zaharul Oradea (Sugar Oradea), part of the German-French group Cristal Diamant, posted a 2.68 million-euro (9.1 million-RON) turnover in the first three months of this year, a 45% decline on the same period last year, when this indicator stood at 4.64 million euros (16.3 million RON). “The decline is generated by the company shift to a production system based on allocated quotas,” Corneliu Pentilescu, general manager of the plant in Oradea, told ZF Transilvania. Following the results of the first quarter, the management of the company estimates a total turnover decline of 15%. Last year, Zaharul Oradea produced 100,000 tonnes, and has been allocated a 65,000 tonne quota for this year. According to company representatives, Zaharul Oradea posted a 56 million-euro turnover in 2006, against 28 million euros in 2005. “The factors behind this trend included an increase in the retail price of sugar, as well as an increase in the volume of sales,” specified Corneliu Pentilescu.