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Sió-Eckes targets 8-10% revenue rise in 2011

Hungarian fruit juice company Sió-Eckes targets revenue of HUF 19.5 billion-20 billion in 2011, up 8-10% from 2010, managing director Endre Fazekas told MTI.

Sió-Eckes' revenue fell 8% to about HUF 18 billion in 2010 because of the harsh economic conditions and a contracting market, Fazekas said. The company sold its products for about the same prices in 2010 as in 2009, he added.

Sió-Eckes made about HUF 600 million in technology investments in 2010, thus it does not plan any big capital expenditures in 2011, he said.

Mineral water sales now account for one-third of Sió-Eckes revenue. The company recently extended is contract to sell Szentkirályi mineral water for another two years. (MTI – Econews)