Its net profit more than doubled in the first nine months of the year, to RON12.43 million, from RON5.43 million in the same interval in 2013.
The company’s operating revenue increased 21.4%, from RON308.7 million to RON374.78 million, while operating expenses advanced 20%, from RON300.6 million to RON360.96 million on the year in January-September, the company said in a statement to the Bucharest Stock Exchange Wednesday.
Albalact targets a turnover of over EUR100 million in 2014 and a 30% profit growth to RON11 million.
The company has two production units in Romania and over 800 employees.
Local businessman Raul Ciurtin indirectly owns a 42.53% stake in the company, through Cyprus-registered Crisware Holdings (26.86%) and Croniar Holdings Limited (15.67%). Cyprus-registered investment fund RC2 Limited owns a 25.45% stake.
Albalact last traded in Bucharest at RON0.2623 a share.