Bakalland reports 180% increase in net profit in H1 2009/2010

2010-03-09

Bakalland, the well-known producer of raisins and nuts, achieved a record-breaking result in the first six months of 2009/2010 fiscal year, which started in July 2009. Over the period, its net profit was PLN 9.1m (€2.3), a 180% year-on-year increase, whereas its sales revenues came to PLN 106.9m (€27.2m). In the whole 2009/2010 fiscal year Bakalland expects a double figure net profit and sales revenues of PLN 200m (€50m). By way of comparison in 2008/2009 fiscal year, Bakalland reported a net loss of PLN 408,000 (€102,000). Moreover, between now and June 2011, Bakalland envisages sales revenues of PLN 300m (€75m) and its market share is expected to grow from 24% at the beginning of 2010 to 30% in mid-2011.
Company's healthy results in H1 2009/2010 reflect the stability of the zloty, along with the completion of a restructuring process and the renegotiation of contracts with suppliers. The latter changes saved the company around PLN 1.5m (€382,000).
In 2010, Bakalland intends to invest PLN 28m (€7m) in, among other things, a new fruit processing factory. The project is thought to be worth between PLN 16-18m (€4-4.5m). The producer is also considering a number of acquisitions – it is interested in companies which turn over between PLN 50-100m (€12-25m).