Romanian dairy producer Albalact ended the first half of 2014 with a net profit of RON 13.3 million (over EUR 2.9 million), triple compared to the RON 4.4 million registered in the same period of 2013, according to the company’s report.

Albalact also recorded a higher turnover in this period, of RON 228.3 million (EUR 51.1 million), up from RON 204.5 million reported in the first six months of the previous year. The company’s operating income amounted to RON 255.1 million (EUR 57.1 million), while the operating expenses went up to RON 241.5 million (over EUR 54 million).

Albalact is one of the largest dairy producers in Romania. The company’s main shareholders are the Ciurtin family and private equity fund RC2. Its main competitors on the local dairy market are French groups Danone and Lactalis (laDorna) and Dutch group FrieslandCampina.

Irina Popescu, irina.popescu@romania-insider.com