Kandia: Difficult Start Of Year, Despite Optimistic Forecasts

05.15.2011 ZF English

Chocolate manufacturer Kandia, one of the best-known local brands, says the beginning of the year was difficult despite optimistic forecasts made in January 2011.

Despite the aggressive promotions, the chocolate market continued to decline in the first three months of the year against the similar period of 2010.

"All chocolate segments fell by an overall 5%-10% despite the very aggressive promotional campaigns launched by producers (...)," says Mihut Craciun, general manager of Kandia, referring to the evolution of the market in the first quarter.

According to him, Kandia posted EUR31 million in turnover last year, down around 8% against 2009, and EUR0.4 million in profit, which compares with a loss of EUR1.4 million in the previous financial year.