The company’s profit fell by 30.1% on the year, to RON1.37 million from RON1.96 million.
Revenue declined by 19.8%, to RON34.8 million, while expenses were 19.6% lower, at RON33.2 million.
Boromir Prod plans to double its profit this year, to RON2.7 million, and invest EUR2.6 million to expand its production capacity.
Boromir Prod is part of Boromir group, one of the largest milling and bakery companies in the local market. The group is controlled by businessman Constantin Boromiz, and also includes the companies Boromir Ind, Boromir Pan, Moara Cibin (MOIB.RO), Extrasib Sibiu, Comcereal Sibiu, Amylon Sibiu (AMY.RO) and Panmed Medias.
On the Bucharest Stock Exchange on Tuesday, Boromir Prod closed flat at RON0.1661. (EUR1=RON4.4411)