Albalact said total sales inched up to RON247 million in January to September, from RON246 million in the same period of 2011.
“Romanian dairy market continues to decline and consumption is not bound to recover any time soon,” said Raul Ciurtin, chief executive officer of Albalact.
Alabalact has a share capital of RON65.27 million. The company employs over 600 staff. Main shareholders include Raul Ciurtin’s father, Petru, with a stake of 31.74% and Cyprus-registered investment fund RC2 Limited with 25.44%.
In August, Raul Ciurtin has transferred his 11% stake in Albalact to Cyprus-headquartered company Crisware Holdings Limited.
Wednesday, Albalact closed down 1.48% at RON0.133 a share in Bucharest.