Business News

Poultry Group Pivka Happy with 4% Rise in Sales Revenues in 2010

Pivka, 03 May (STA) - Poultry producer Pivka perutninarstvo generated EUR 219,788 in net profit in 2010, the group said in a press release on Tuesday. The group is especially happy that its sales revenues increased by some 4% compared to 2009, when they amounted to EUR 42.15m.

Pivka perutninarstvo said that last year's profit was affected by growing prices of electricity, heating fuel, the cost of cereals and the cost of other raw materials.

In addition, its profit was hit by a cut in the prices of its products undertaken to respond to a fall in purchasing power of consumers.

The crisis also affected Pivka's fish-processing subsidiary Delamaris, however, the company managed to generate EUR 427,847 in net profit in 2010 in spite of lower sales revenues.

Pivka perutninarstvo said in the press release that the main reason for Delamaris's troubles were financial problems of its business partners in Croatia.

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