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Mars Magyarország sees flat revenue in 2009

The Hungarian unit of US food giant Mars targets revenue of more than HUF 50 billion in 2009, about level with revenue in the previous year as chocolate sales fall but pet food sales rise, Mars Magyarország managing director Tamás Ács said at a press conference on Thursday.

In 2008, Mars Magyarország had revenue of more than HUF 52 billion and turned a profit, Ács said. This year, the company aims to keep its profit margin unchanged from last year, he added.

Pet food sales generated more than half of Mars Magyarország's revenue in 2008. Sales of chocolates and sweets accounted for more than 30%. Export revenue came to HUF 31 billion.

Mars Magyarország buys about HUF 10 billion of feedstock from Hungarian suppliers each year, but it must also import base materials, which have become more costly because of the weaker forint. The company raised its prices 5-7% from May as a result, Ács said.

Mars Magyarorszá employs almost 800 people and it hires an additional 200 seasonal labourers. The company plans no layoffs because of the crisis, Ács said.