Bakery Firm Titan Sees 2011 Sales Up 9% to RON283M

04.29.2011 ZF English

Romanian bakery company Titan (MPN.RO) expects sales of 282.9 million lei (EUR69.4 million) this year, up 8.7% from RON260.1 million in 2010, the company said Friday in a statement.

Romanian bakery company Titan (MPN.RO) expects sales of 282.9 million lei (EUR69.4 million) this year, up 8.7% from RON260.1 million in 2010, the company said Friday in a statement.

The earnings before interest and tax, or EBIT, are seen at RON17.8 million, while the operating profit is estimated at RON8.4 million, according to the budget approved Thursday by the company's stockholders.

They also approved the payment of a gross dividend of RON0.012 a share.

Titan is 97.6% owned by Austria's LLI Euromills Viena.

The company's shares were last traded Wednesday in Bucharest at RON0.2898, up 3.5% on the day.