August 17 (SeeNews) - Romanian dairy farm Albalact on Monday reported a first-half net profit of 2.81 million lei ($940,100/665,500 euro) compared to a net profit of some 964,000 lei a year ago.
“In 2009, the company adapted very well its strategy to the market conditions which would ensure a growth pace faster than that of the wider dairy market,” Albalact said in a statement.
The local dairy market is expected to grow by between 5.0% to 7.0% this year, according to data of Romania's association of entrepreneurs in the dairy industry, the statement added.
Following are data from the company's income statement, filed with the over-the-counter market RASDAQ on Monday (in millions of lei):
Albalact shares closed down 0.29% at 0.341 lei on the RASDAQ on Monday.
Albalact (www.albalact.ro), set up in 1990, is located in the Alba county in central Romania.
The company, which has said it ranks fourth on the Romanian dairy market, produces the Albalact, Zuzu and Fulga brands. It competes with France's Danone, Germany's Hochland and Romania's LaDorna.
(1 euro=4.2222 Romanian lei)