Kaiser Foods expects Ft 4.5 bln revenue in 2005
Monday, December 19, 2005, 14:20
Meat processor Kaiser Foods expects to end 2005 with revenue of Ft 4.5 billion, well over last year's Ft 4 billion, the company announced on Monday. Kaiser Foods expects profits this year to beat the industry average. The company plans to become one of Hungary's three leading meat exporters soon, and plans to boost exports to 30%-50% of total turnover.
Kaiser Foods recently spent Ft 1 billion to upgrade its two facilities to meet EU requirements, and aims to become a leading supplier to the region's big commercial networks, mainly in Slovakia, Croatia, France and Germany. The company will start exporting to Germany next year. Kaiser Foods has had a 3.7%-5.1% share of Hungary's meat market over the last three years, making it the seventh to third largest market player.