Europasta: raises turnover to 52,9 million EUR

Prague / CZ. (tcz) The largest Czech pasta producer Europasta raised consolidated turnover to 1,3 billion CZK (52,9 million EUR) in 2007, CEO and co-owner Pavel Hrdina said to local media. Last year the group made 17 million CZK profit, he said. Fast rising prices of grain in the second half 2007 have contributed to the results. According to Hrdina, there are not many rivals in this branch because of its low profitability at some two percent. The company showed 28 million profit on consolidated turnover of 1,1 billion CZK in 2006, Hrdina said to local media (Tyden | CTK). A major competitor in the region is Slovak company MPC Cessi A.S.. Europasta group is registered in the Netherlands. Its members are the leading Czech pasta makers Bratri Zatkove and Adriana.

At end-July Europasta acquired Tero Rosice SRO from the Penam bakery in exchange for its bakery Pekast spol. SRO. Penam A.S., second largest Czech bakery group and subsidiary of the Czech Agrofert Holding, has not only acquired its rival Pekast, but also Nobrs SRO, producer of flour and other milling products. Europasta is owned by Pavel Hrdina and Michal Mitka.