Agricola Bacau Posts RON105M Sales In 1Q

04.27.2011 By Andrei Circhelan

Romanian group Agricola Bacau posted sales of 104.8 million lei (EUR25.7 million) in the first quarter of the year, up 10% on the same interval of 2010, fueled by increases in most market segments.

Romanian group Agricola Bacau posted sales of 104.8 million lei (EUR25.7 million) in the first quarter of the year, up 10% on the same interval of 2010, fueled by increases in most market segments.

"In the first quarter of last year, the market went through some of the toughest times: the removal of subsidy, decreasing prices and rising stocks," group president Grigore Horoi said, explaining the increase registered so far this year.

Previously, the group said it expects sales to rise 9% on the year in 2011, to more than 443 million lei (some EUR109 million), since poultry meat price is set to rise 10% and consumption should increase.

Sales are calculated on the results of Agricola International, Salbac, Europrod, Comcereal, Aicbac, Suinprod and Avicola Lumina - Constanta, which are members of the agricultural group.

In 2010, the group posted sales of RON408 million, with RON280 million coming from Agricola International Bacau, which supplies poultry meat. This year, Agricola International Bacau plans sales of some RON300 million.

The group plans to invest some EUR7 million this year, mainly in poultry meat production upgrades (EUR3.2 million) and poultry farms (EUR2.5 million).

Agricola Bacau currently holds a network of 52 stores and it plans to open another 30 units this year.

The group has a total 2,500 employees and it does not plan layoffs or employment in 2011. (EUR1=RON4.0767)