Higher meat and fuel prices and exchange rate fluctuation boost Angst business to €75 mln

Agromonitor în english-section
2008 December 19

The Angst group, a major cold meat producer and food retailer on the Romanian market, is targeting €75 million in net sales in 2009, up some seven percent year-on-year, according to company data. “In this target we have considered the market’s instability, the significant increase in raw material internationally, higher prices for fuels, and the […]

The Angst group, a major cold meat producer and food retailer on the Romanian market, is targeting €75 million in net sales in 2009, up some seven percent year-on-year, according to company data.

“In this target we have considered the market’s instability, the significant increase in raw material internationally, higher prices for fuels, and the fluctuation of the exchange rate,” Stefan Padure, the company’s Vice President, told Business Standard.

“It is very difficult to talk about profit in current conditions, when the cost of financing has surged and raw materials have reached heights which are difficult to accept by clients,” said the company official.