“The 2017 revenue only went up 1% in the books, compared with 2016, but actually, due to the legislative changes about the accounting treatment of the slotting fee introduced in mid-2016, if 2016 had included slotting fees for the entire year (as 2017 did), the growth in 2017 would have been much higher,” says Iulian Marinica, general manager of the Fox group.
Last year, Fox had to deal with a surge in raw material prices of as much as 50% compared with 2016, but the company decided against raising its prices by the same amount.
Fox has a cold cuts production facility in Bucharest and operates via two companies – Fox Com Serv (production) and Fox Com Serv Distribution (distribution and sale).
(English version by Loredana Fratila-Cristescu)