Prodlacta 1Q Sales Fall 17% To RON48.5M

05.03.2011 By Andrei Circhelan

Dairy maker Prodlacta Brasov (PRAE.RO) on Tuesday reported sales of 48.5 million lei (some EUR12 million) in 2010, down 17% from RON58.8 million the year before, since competition pressured prices downwards.

The company switched to an operating loss of RON4.8 million last year, from a profit of RON133,000 the year before. At the same time, the reevaluation of its foreign currency loans brought the company a loss of RON3.3 million, compared to RON2.4 million the year before.

Revenue dropped 29% on the year, to RON42.9 million, while expenditure dropped 18%, to RON51 million.

Company shareholders include the employees association, with 41.75%, Olympus Dairy Industry Baraolt with 23.45% and Romanian privatization authority AVAS with 18.14%.

Prodlacta has a share capital of RON16.9 million, divided into 12.4 million shares with a face value of RON1.36.

Company shares were last traded on April 21, at RON2.5, up 8.7% on the day. (EUR1=RON4.1073)