“Sales went well in the first nine months of 2008, considering competition on this market was lower in this period,” Vasile Leu, President of Argus, told Business Standard. He added that the profit registered in the third quarter was lower than that posted in the first quarter. For the final quarter of 2008, when the supply on the market will register a high level, the company’s President expects an average profit lower than that of this year’s first nine months.
Argus owns an edible oil factory in Constanta County and several grain warehouses in Constanta, Calarasi and Tulcea counties.
The company has cut oil prices by some 10 percent since August, due to a good sunflower harvest in 2008, but also because of lower international prices of raw material.
Company officials expect the downward trend of vegetable oil prices to continue on the entire market. The Romanian edible oil market is estimated at an annual 250,000 tons, with its value exceeding €200 mln. Major players are Bunge, Argus, Cargill, Prutul, and Expur.
Yahoo!: Romania is more important than Poland and the Czech Republic
antonia.tucheac@standard.ro
Yahoo! intends to intensify its activity in Romania, one of the company’s strongest markets, according to Marvin Liao, Director of Sales Development of Yahoo! Emerging Markets.
The advantages provided by Romania include the company’s position on the local market, the characteristics of Romanian users and the market’s potential, said Liao.
“We are planning to be far more active on the Romanian market, which has a very high growth rate. It would be a mistake on our part not to act,” Liao added.
Though he did not wish to provide any further details, Liao explained that the expansion will mean better localized products and services.
“Poland and the Czech Republic are important markets in terms of value, and of course we want to be major players on those markets as well. However, Yahoo! is in a greater position in Romania, and it is much better to operate from a strong position,” said the company’s official.
Liao indicated that Romanian users are more loyal to the product. Also, the Yahoo! brand is very strong in Romania, where there are eight million active email accounts.
The media giant posted $54.3 million (€42.1 mln) in profit in the third quarter of 2008, three times lower than the level registered in Q3 2007.
“The Polish market is very large in terms of value but it is also extremely competitive. We could win on that market, but that would require a lot of time and huge resources. And when you have a global portfolio, such as Yahoo! does, you have to balance things. You must always think where you can maximize your investment return ratio,” said Liao.
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