Eliodor Apostolescu, owner of the group, says the increase is due to the company’s not having hiked prices in line with the market in 2022, which led to higher sales last year.
PhoenixY in 2022 generated RON180 million turnover, up 23% from 2021. Net profit reached RON2.6 million, half the 2021 level and six times lower than in 2020.
For 2024, the entrepreneur says he expects new business increases, with the pace being forecast to be similar to that of 2023.
Around 60% of the company’s puffs production goes abroad. In recent years, the company has boosted exports and Gusto puffs now reach around 45 countries on several continents.
(English version by Catalina Apostoiu)