Primola Maker Sees 20% Higher Turnover and Rising Profit

05.19.2011 ZF English

Supreme Chocolat, the producer of Primola chocolate, forecasts improved financial results for 2011 though, according to market players, Romanians' appetite for sweets is still very low, with the market having lost 5%-10% since the start of the year.

The company's data show Supreme Chocolat shareholders expect turnover worth 109.6 million lei (around EUR27 million), up almost 20% from the figure reported last year, of RON91.95 million (around EUR22 million).

The company also budgeted a higher figure as regards net profit. Thus, Supreme Chocolat expects a profit of RON2.29 million (EUR0.5 million), up 11.7% from 2010.

Supreme is one of the few family businesses on the confectionery market that is still battling international giants such as Kraft, Mars or Nestle, being controlled by the Lebanese-born Jihad and Johnny Jabra brothers.

For this year, the company has earmarked a RON2.9 million investment budget (EUR0.7 million), four times higher than last year's, being set to hire 20 people. Thus, at the end of 2011 Supreme Chocolat will have 317 employees. (EUR1=RON4.1184)