Boromir posts €110 mln in turnover and €190 mln in profit

“For 2008, we estimate a 10 percent growth in turnover and net profit worth some €5 mln,” he told Business Standard. The 70 percent increase in profit was due to the sale last year of a piece of land in the city of Sibiu for €9 million,” Boromiz added.

The local milling and baked goods market is worth some €2 billion, according to Boromiz’ estimates, with Boromir, Sapte Spice, Titan, Dobrogea Grup and Pambac its main players. Boromir has a 10 percent market share, and company officials target a 15 percent share in the next 3-4 years.

The group plans to invest some €5 mln this year in market strategies expanding production capacity and increasing the product portfolio, Boromiz said.