Campofrio posts three times lower profit

Tabco-Campofrio, the Romanian branch of Spanish charcuterie producer Campofrio, ended the first quarter of this year with 0.4 million RON (around 93,000 euros) in net profit, three times less than in the first three months of 2008. The company’s profit started to decline as early as last year, with Tabco-Campofrio recording a 2.7 million-RON (0.7 million-euro) net profit in 2008, compared with 9.5 million RON (2.9 million euros) in 2007, according to information provided by company representatives. In 2008 the company’s turnover stagnated at 120 million RON (32.5 million euros), an almost 10% decline in euros compared with 2007 results. However, Tabco-Campofrio resumed growth in the first three months of this year, when the turnover went up 7.9%, from the 25.2 million RON reported in 2008, to 27.3 million RON (6.4 million euros).