“The first quarter was very good. The step to cut food VAT to 9% rebooted consumer spending and that shows in the market. We are on target this year, we set out to achieve growth of 10% but actually got to 19% to 20%,” said Radu Timis, the entrepreneur who owns the group that posted almost EUR105 million revenue last year. Timis made his statement by phone during the ZF Live show.
The entrepreneur had previously said the group had budgeted growth of 10% so it was headed towards EUR120 million revenue.
The Cris-Tim group has more than 2,000 employees.
It competes with other entrepreneurial businesses like Caroli (a joint-venture of Caroli and Lebanese El Solh family), Angst (Sorin Minea), Unicarm (Vasile Lucut) and Kosarom (Nicolai Apostol) on the EUR2 billion meat market in Romania. It sells its products under Cris-Tim and Matache Macelaru brands (meats), as well as Mandruta (dairy).
(English version by Loredana Fratila-Cristescu)