Fage Has Products To Grow Internationally But Hampered By Competition At Home

Greek dairy producer Fage has reported a net loss of EUR11.7mn for 2008 which follows a loss of EUR19.3mn for 2007. Over the year Fage's volume sales increased by 5.3% thanks to share gains in its domestic market and strong international growth. However, net sales increased by just 0.5% to reach EUR336mn, due to domestic price competition and the strength of the euro against the US and UK currencies, where most of its international sales are made.

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